Shares of Reconnaissance Energy Africa Ltd. (CVE:RECO – Get Free Report) shot up 31.3% during mid-day trading on Wednesday . The stock traded as high as C$0.76 and last traded at C$0.63. 7,015,413 shares were traded during mid-day trading, an increase of 1,644% from the average session volume of 402,300 shares. The stock had previously closed at C$0.48.
Reconnaissance Energy Africa Stock Performance
The company has a 50 day moving average of C$0.48 and a 200-day moving average of C$0.51. The stock has a market cap of C$212.66 million, a price-to-earnings ratio of 2.03 and a beta of -0.19.
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.
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