Oceanic Iron Ore (CVE:FEO) Shares Down 14.6% – Should You Sell?

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price dropped 14.6% during trading on Friday . The stock traded as low as C$0.18 and last traded at C$0.18. Approximately 136,850 shares traded hands during trading, an increase of 34% from the average daily volume of 102,229 shares. The stock had previously closed at C$0.21.

Oceanic Iron Ore Trading Down 14.6 %

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 50 day moving average price is C$0.19 and its 200 day moving average price is C$0.16. The stock has a market capitalization of C$19.26 million, a P/E ratio of -8.75 and a beta of 0.99.

Insider Activity at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha purchased 700,000 shares of Oceanic Iron Ore 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 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.