Oceanic Iron Ore (CVE:FEO) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Oceanic Iron Ore Corp. (CVE:FEO) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$0.16 and traded as high as C$0.23. Oceanic Iron Ore shares last traded at C$0.21, with a volume of 36,201 shares traded.

Oceanic Iron Ore Stock Down 8.9 %

The company’s 50-day simple moving average is C$0.19 and its two-hundred day simple moving average is C$0.16. 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 has a market capitalization of C$22.57 million, a P/E ratio of -10.25 and a beta of 0.99.

Insider Buying and Selling at Oceanic Iron Ore

In other news, Director Christopher Ross Batalha bought 700,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were bought at an average price of C$0.18 per share, for a total transaction of C$126,000.00. 107.26% of the stock is currently owned by corporate insiders.

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.