Reconnaissance Energy Africa (CVE:RECO) Shares Down 20.2% – Here’s What Happened

Reconnaissance Energy Africa Ltd. (CVE:RECO)’s stock price was down 20.2% on Thursday . The company traded as low as C$0.94 and last traded at C$0.99. Approximately 2,193,889 shares changed hands during trading, an increase of 460% from the average daily volume of 391,542 shares. The stock had previously closed at C$1.24.

Reconnaissance Energy Africa Trading Down 21.4 %

The stock has a fifty day simple moving average of C$1.06 and a two-hundred day simple moving average of C$1.02. The firm has a market cap of C$258.51 million, a PE ratio of 2.79 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.