Reconnaissance Energy Africa (CVE:RECO) Stock Price Up 3.9% – Time to Buy?

Reconnaissance Energy Africa Ltd. (CVE:RECO)’s share price rose 3.9% during mid-day trading on Wednesday . The stock traded as high as C$1.09 and last traded at C$1.07. Approximately 166,270 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 317,123 shares. The stock had previously closed at C$1.03.

Reconnaissance Energy Africa Stock Performance

The company has a market capitalization of C$283.70 million, a P/E ratio of 3.06 and a beta of 1.24. The firm’s fifty day moving average is C$1.02 and its 200 day moving average is C$1.09.

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.