Reconnaissance Energy Africa (CVE:RECO) Stock Price Down 1% – What’s Next?

Reconnaissance Energy Africa Ltd. (CVE:RECO)’s stock price traded down 1% on Wednesday . The stock traded as low as C$0.98 and last traded at C$1.01. 415,992 shares traded hands during trading, a decline of 47% from the average daily volume of 779,144 shares. The stock had previously closed at C$1.02.

Wall Street Analysts Forecast Growth

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

Reconnaissance Energy Africa Trading Up 1.0%

The stock has a market capitalization of C$381.09 million, a P/E ratio of -24.75 and a beta of -0.14. The business’s fifty day simple moving average is C$1.10 and its two-hundred day simple moving average is C$1.01.

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.