Meren Energy Inc. Sells 5,000,000 Shares of Africa Energy (CVE:AFE) Stock

Africa Energy Corp. (CVE:AFE) insider Meren Energy Inc. sold 5,000,000 shares of Africa Energy stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of C$0.14, for a total transaction of C$700,000.00. Following the sale, the insider directly owned 271,982,414 shares of the company’s stock, valued at approximately C$38,077,537.96. This trade represents a 1.81% decrease in their ownership of the stock.

Africa Energy Price Performance

CVE:AFE remained flat at C$0.17 during trading hours on Thursday. The company had a trading volume of 47,575 shares, compared to its average volume of 37,688. Africa Energy Corp. has a 52-week low of C$0.10 and a 52-week high of C$0.55. The company has a market capitalization of C$81.46 million, a PE ratio of -17.00 and a beta of 0.65. The company has a 50-day simple moving average of C$0.20 and a two-hundred day simple moving average of C$0.20.

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. in March 2015. Africa Energy Corp. is headquartered in Vancouver, Canada.