Africa Oil (OTCMKTS:AOIFF) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

Africa Oil Corp. (OTCMKTS:AOIFF) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.42 and traded as low as $1.30. Africa Oil shares last traded at $1.31, with a volume of 113,423 shares.

Analyst Upgrades and Downgrades

Separately, Barclays upgraded Africa Oil to a “strong-buy” rating in a research note on Tuesday, January 21st.

Africa Oil Stock Down 2.6 %

The stock’s fifty day moving average is $1.37 and its two-hundred day moving average is $1.42. The company has a current ratio of 8.99, a quick ratio of 8.99 and a debt-to-equity ratio of 0.01. The firm has a market cap of $573.00 million, a P/E ratio of -1.55 and a beta of 1.00.

About Africa Oil

Africa Oil Corp., together with its subsidiaries, operates as an oil and gas exploration and production company in Kenya, Nigeria, and South Africa. The company holds interests in producing and development assets in deep-water Nigeria, and development assets in Kenya. It also has a portfolio of exploration and appraisal assets in Namibia, Nigeria, South Africa, and Kenya, as well as Guyana and Senegal Guinea Bissau Joint Development Zone.