Africa Energy (CVE:AFE) Shares Up 33.3% – What’s Next?

Shares of Africa Energy Corp. (CVE:AFE) were up 33.3% on Friday . The stock traded as high as C$0.04 and last traded at C$0.04. Approximately 747,500 shares changed hands during mid-day 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 Stock Performance

The stock has a fifty day moving average price of C$0.03 and a 200-day moving average price of C$0.03. The company has a current ratio of 0.24, a quick ratio of 28.20 and a debt-to-equity ratio of 13.68. The firm has a market capitalization of C$56.40 million, a price-to-earnings ratio of -0.21 and a beta of 1.06.

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.