Reconnaissance Energy Africa (CVE:RECO) Stock Price Up 20.2% – What’s Next?

Reconnaissance Energy Africa Ltd. (CVE:RECO)’s share price rose 20.2% on Wednesday . The stock traded as high as C$1.19 and last traded at C$1.19. Approximately 1,078,602 shares were traded during mid-day trading, an increase of 280% from the average daily volume of 284,094 shares. The stock had previously closed at C$0.99.

Reconnaissance Energy Africa Trading Down 12.8 %

The firm’s 50 day simple moving average is C$1.06 and its two-hundred day simple moving average is C$1.02. The firm has a market cap of C$225.37 million, a price-to-earnings ratio of 2.43 and a beta of 1.24.

Reconnaissance Energy Africa Company Profile

Reconnaissance Energy Africa Ltd., a junior oil and gas company, engages in exploration and development of oil and gas properties in Namibia and Botswana. The company holds a 90% interest in a petroleum exploration license that covers an area of approximately 25,341.33 square kilometer located in Namibia; and 100% working interest in a petroleum license, which covers an area of 8,990 square kilometer located in northwestern Botswana.