Oceanic Iron Ore (CVE:FEO) Shares Down 22.2% – Should You Sell?

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price traded down 22.2% during trading on Friday . The stock traded as low as C$0.18 and last traded at C$0.18. 110,530 shares were traded during trading, a decline of 25% from the average session volume of 146,570 shares. The stock had previously closed at C$0.23.

Oceanic Iron Ore Trading Down 22.2 %

The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43. The stock has a market capitalization of C$19.26 million, a P/E ratio of -8.75 and a beta of 0.99. The firm’s 50 day moving average price is C$0.18 and its 200 day moving average price is C$0.14.

Insider Buying and Selling at Oceanic Iron Ore

In other Oceanic Iron Ore news, Director Christopher Ross Batalha bought 700,000 shares of Oceanic Iron Ore stock in a transaction dated Friday, November 22nd. The shares were purchased at an average cost of C$0.18 per share, with a total value of C$126,000.00. Also, Director Gordon Keep sold 355,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of C$0.27, for a total value of C$95,850.00. Insiders sold 494,500 shares of company stock valued at $129,248 in the last 90 days. Insiders own 107.26% of the company’s stock.

Oceanic Iron Ore Company Profile

Oceanic Iron Ore Corp., an exploration stage company, acquires and explores for iron ore properties in Quebec, Canada. It holds a 100% interest in the Ungava Bay iron property comprising three project areas, including Hopes Advance, Morgan Lake, and Roberts Lake, which covers an area of approximately 35,999 hectares of iron formation located in Nunavik, Quebec.