Africa Oil (OTCMKTS:AOIFF) Shares Pass Below 200-Day Moving Average – Time to Sell?

Shares of Africa Oil Corp. (OTCMKTS:AOIFF) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.39 and traded as low as $1.34. Africa Oil shares last traded at $1.35, with a volume of 76,621 shares traded.

Analysts Set New Price Targets

Separately, Barclays raised Africa Oil to a “strong-buy” rating in a research report on Tuesday, January 21st.

Africa Oil Stock Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 8.99 and a quick ratio of 8.99. The firm’s 50-day simple moving average is $1.35 and its 200 day simple moving average is $1.38.

About Africa Oil

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.