Reconnaissance Energy Africa (CVE:RECO) Trading Up 7.4% – Still a Buy?

Reconnaissance Energy Africa Ltd. (CVE:RECO)’s stock price was up 7.4% during trading on Thursday . The company traded as high as C$1.03 and last traded at C$1.02. Approximately 528,367 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 1,014,365 shares. The stock had previously closed at C$0.95.

Reconnaissance Energy Africa Price Performance

The stock has a market capitalization of C$389.34 million, a price-to-earnings ratio of 3.32 and a beta of 0.62. The stock’s 50 day simple moving average is C$0.86 and its 200-day simple moving average is C$0.73.

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. Reconnaissance Energy Africa Ltd. is headquartered in Vancouver, Canada.