Reconnaissance Energy Africa (CVE:RECO) Trading Up 17.6% – Here’s What Happened

Shares of Reconnaissance Energy Africa Ltd. (CVE:RECO) rose 17.6% during mid-day trading on Monday . The stock traded as high as C$1.25 and last traded at C$1.20. Approximately 1,516,772 shares were traded during trading, an increase of 369% from the average daily volume of 323,099 shares. The stock had previously closed at C$1.02.

Reconnaissance Energy Africa Price Performance

The firm has a market cap of C$318.17 million, a price-to-earnings ratio of 3.43 and a beta of 1.24. The stock has a 50-day moving average price of C$0.99 and a 200 day moving average price of C$1.10.

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.