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

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price dropped 22.2% during mid-day trading on Friday . The stock traded as low as C$0.18 and last traded at C$0.18. Approximately 110,530 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 151,612 shares. The stock had previously closed at C$0.23.

Oceanic Iron Ore Trading Down 22.2 %

The company has a market cap of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99. The business has a fifty day simple moving average of C$0.18 and a 200 day simple moving average of C$0.14. The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79.

Insider Activity

In related news, Director Christopher Ross Batalha bought 700,000 shares of Oceanic Iron Ore stock in a transaction that occurred on Friday, November 22nd. The shares were purchased at an average price 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 stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total value of C$95,850.00. Insiders sold a total of 494,500 shares of company stock worth $129,248 over the last 90 days. 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.