Oceanic Iron Ore (CVE:FEO) Stock Price Up 66.7% – What’s Next?

Oceanic Iron Ore Corp. (CVE:FEO) shares rose 66.7% during trading on Friday . The company traded as high as C$0.29 and last traded at C$0.28. Approximately 818,754 shares changed hands during trading, an increase of 344% from the average daily volume of 184,422 shares. The stock had previously closed at C$0.17.

Oceanic Iron Ore Trading Up 66.7 %

The stock has a market cap of C$30.27 million, a P/E ratio of -13.75 and a beta of 0.99. The firm’s fifty day moving average price is C$0.18 and its two-hundred day moving average price is C$0.14. The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43.

Insider Buying and Selling at Oceanic Iron Ore

In other news, Director Christopher Ross Batalha bought 700,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was bought at an average price of C$0.18 per share, for a total transaction of C$126,000.00. Also, Director Gordon Keep sold 355,000 shares of Oceanic Iron Ore 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. Insiders have sold a total of 510,000 shares of company stock valued at $128,700 in the last 90 days. Corporate insiders own 107.26% of the company’s stock.

About Oceanic Iron Ore

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.