Africa Oil (OTCMKTS:AOIFF) Stock Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Africa Oil Corp. (OTCMKTS:AOIFF) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.40 and traded as low as $1.29. Africa Oil shares last traded at $1.30, with a volume of 109,212 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Barclays upgraded shares of Africa Oil to a “strong-buy” rating in a research note on Tuesday, January 21st.

Africa Oil Stock Up 0.9 %

The company has a quick ratio of 8.99, a current ratio of 8.99 and a debt-to-equity ratio of 0.01. The stock has a market cap of $575.19 million, a P/E ratio of -1.56 and a beta of 1.01. The company has a 50-day simple moving average of $1.36 and a two-hundred day simple moving average of $1.40.

Africa Oil Company Profile

Africa Oil Corp., together with its subsidiaries, operates as an oil and gas exploration and production company in Kenya, Nigeria, and South Africa. The company holds interests in producing and development assets in deep-water Nigeria, and development assets in Kenya. It also has a portfolio of exploration and appraisal assets in Namibia, Nigeria, South Africa, and Kenya, as well as Guyana and Senegal Guinea Bissau Joint Development Zone.