Reconnaissance Energy Africa (CVE:RECO) Stock Price Down 1.7% – Time to Sell?

Reconnaissance Energy Africa Ltd. (CVE:RECO)’s stock price traded down 1.7% on Friday . The company traded as low as C$0.59 and last traded at C$0.59. 129,999 shares were traded during trading, a decline of 82% from the average session volume of 705,955 shares. The stock had previously closed at C$0.60.

Analyst Ratings Changes

Separately, Canaccord Genuity Group set a C$1.75 price objective on shares of Reconnaissance Energy Africa and gave the stock a “speculative buy” rating in a research report on Wednesday, June 17th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$1.75.

Reconnaissance Energy Africa Stock Down 1.7%

The company’s fifty day moving average price is C$0.75 and its two-hundred day moving average price is C$0.96. The firm has a market cap of C$245.42 million, a PE ratio of -14.75 and a beta of -0.30.

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. Reconnaissance Energy Africa Ltd. is headquartered in Vancouver, Canada.