Africa Energy (CVE:AFE) Trading Up 53.1% – Here’s Why

Africa Energy Corp. (CVE:AFE)’s share price shot up 53.1% during mid-day trading on Friday . The stock traded as high as C$0.25 and last traded at C$0.25. 127,608 shares changed hands during trading, an increase of 466% from the average session volume of 22,536 shares. The stock had previously closed at C$0.16.

Africa Energy Price Performance

The company’s 50 day simple moving average is C$0.13 and its 200 day simple moving average is C$0.14. The stock has a market cap of C$88.64 million, a P/E ratio of -1.28 and a beta of -0.16. The company has a debt-to-equity ratio of 28.69, a current ratio of 0.25 and a quick ratio of 28.20.

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.