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

Oceanic Iron Ore Corp. (CVE:FEO) fell 22.2% on Friday . The company traded as low as C$0.18 and last traded at C$0.18. 110,530 shares traded hands 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 Stock Down 22.2 %

The company has a market capitalization of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99. 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 firm’s fifty day moving average price is C$0.18 and its 200-day moving average price is C$0.14.

Insider Activity

In other Oceanic Iron Ore news, Director Christopher Ross Batalha bought 700,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were acquired at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. Also, Director Gordon Keep sold 355,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of C$0.27, for a total transaction of C$95,850.00. Over the last three months, insiders have sold 494,500 shares of company stock valued at $129,248. 107.26% of the stock is currently owned by corporate insiders.

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.