Reconnaissance Energy Africa (CVE:RECO) Shares Down 21% – Should You Sell?

Reconnaissance Energy Africa Ltd. (CVE:RECO)’s share price was down 21% during trading on Thursday . The company traded as low as C$0.94 and last traded at C$0.98. Approximately 2,154,990 shares changed hands during mid-day trading, an increase of 454% from the average daily volume of 389,195 shares. The stock had previously closed at C$1.24.

Reconnaissance Energy Africa Price Performance

The company has a 50-day moving average of C$1.05 and a two-hundred day moving average of C$1.02. The company has a market capitalization of C$225.37 million, a PE ratio of 2.43 and a beta of 1.24.

About Reconnaissance Energy Africa

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.