Reconnaissance Energy Africa (CVE:RECO) Shares Down 4.5%

Shares of Reconnaissance Energy Africa Ltd. (CVE:RECO – Get Rating) dropped 4.5% during trading on Wednesday . The stock traded as low as C$1.00 and last traded at C$1.05. Approximately 114,266 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 203,338 shares. The stock had previously closed at C$1.10.

Reconnaissance Energy Africa Stock Performance

The company has a market cap of C$262.57 million, a PE ratio of -6.84 and a beta of 1.34. The company’s 50-day simple moving average is C$1.39 and its 200 day simple moving average is C$1.56.

About Reconnaissance Energy Africa

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Reconnaissance Energy Africa Ltd., a junior oil and gas company, engages in exploration and development of oil and gas potential in Namibia and Botswana. It holds a 90% interest in a petroleum exploration license that covers an area of approximately 25,341.33 km2 located in Namibia; and 100% working interest in a petroleum license, which covers an area of 8,990 square km2 located in northwestern Botswana.