Africa Energy (CVE:AFE) Stock Price Up 33.3% – Here’s Why

Africa Energy Corp. (CVE:AFE) was up 33.3% during mid-day trading on Friday . The stock traded as high as C$0.04 and last traded at C$0.04. Approximately 747,500 shares were traded during trading, an increase of 273% from the average daily volume of 200,419 shares. The stock had previously closed at C$0.03.

Africa Energy Trading Up 33.3 %

The stock has a market cap of C$56.40 million, a P/E ratio of -0.21 and a beta of 1.06. The company has a debt-to-equity ratio of 13.68, a quick ratio of 28.20 and a current ratio of 0.24. The stock’s fifty day moving average is C$0.03 and its 200 day moving average is C$0.03.

Africa Energy Company Profile

Africa Energy Corp. operates as an oil and gas exploration and production company in South Africa and Namibia. The company focuses on potential gas condensate development on Block 11B/12B offshore in South Africa. It also holds interest in the Block 2B offshore the Republic of South Africa. The company was formerly known as Horn Petroleum Corporation and changed its name to Africa Energy Corp.