Reconnaissance Energy Africa (CVE:RECO) Trading 19.2% Higher - Here's Why

Reconnaissance Energy Africa Ltd. (CVE:RECO - Get Free Report)'s share price rose 19.2% on Wednesday . The stock traded as high as C$1.19 and last traded at C$1.18. Approximately 1,251,620 shares changed hands during mid-day trading, an increase of 325% from the average daily volume of 294,186 shares. The stock had previously closed at C$0.99.

Reconnaissance Energy Africa Trading Up 25.3 %

The stock's 50 day moving average is C$1.05 and its two-hundred day moving average is C$1.02. The stock has a market capitalization of C$328.77 million, a price-to-earnings ratio of 3.54 and a beta of 1.24.

Reconnaissance Energy Africa Company Profile

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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