Africa Energy (CVE:AFE) Trading 48% Higher – What’s Next?

Africa Energy Corp. (CVE:AFE)’s share price shot up 48% on Thursday . The stock traded as high as C$0.39 and last traded at C$0.37. 105,092 shares were traded during mid-day trading, an increase of 76% from the average session volume of 59,680 shares. The stock had previously closed at C$0.25.

Africa Energy Stock Performance

The stock has a 50-day moving average of C$0.20 and a two-hundred day moving average of C$0.16. The company has a market cap of C$172.50 million, a P/E ratio of -1.28 and a beta of 1.27.

Africa Energy Company Profile

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.