Reconnaissance Energy Africa (CVE:RECO) Trading Down 17.2% – What’s Next?

Posted by Donna Armstrong on Jul 18th, 2026

Reconnaissance Energy Africa Ltd. (CVE:RECO – Get Free Report) shares were down 17.2% during trading on Thursday . The stock traded as low as C$0.74 and last traded at C$0.82. Approximately 2,911,801 shares changed hands during mid-day trading, an increase of 272% from the average daily volume of 782,276 shares. The stock had previously closed at C$0.99.

Analysts Set New Price Targets

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

Check Out Our Latest Stock Analysis on RECO

Reconnaissance Energy Africa Trading Down 1.3%

The firm has a 50-day moving average price of C$1.08 and a 200-day moving average price of C$1.01. The company has a market capitalization of C$304.10 million, a price-to-earnings ratio of -19.75 and a beta of -0.14.

About Reconnaissance Energy Africa

(Get Free Report)

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.