Africa Energy (CVE:AFE) Stock Price Passes Above Fifty Day Moving Average – Time to Sell?

Africa Energy Corp. (CVE:AFE)’s share price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$0.13 and traded as high as C$0.15. Africa Energy shares last traded at C$0.15, with a volume of 6,000 shares trading hands.

Africa Energy Trading Up 20.8%

The company has a market cap of C$69.48 million, a price-to-earnings ratio of -1.28 and a beta of -0.16. The company has a quick ratio of 28.20, a current ratio of 0.25 and a debt-to-equity ratio of 28.69. The business’s fifty day simple moving average is C$0.13 and its two-hundred day simple moving average is C$0.14.

About Africa Energy

Africa Energy Corp. operates as an oil and gas exploration and production company in South Africa and Namibia. The company focuses on potential gas condensate development on Block 11B/12B offshore in South Africa. It also holds interest in the Block 2B offshore the Republic of South Africa. The company was formerly known as Horn Petroleum Corporation and changed its name to Africa Energy Corp. in March 2015. Africa Energy Corp. is headquartered in Vancouver, Canada.