Oceanic Iron Ore (CVE:FEO) Stock Price Down 14.6% – What’s Next?

Oceanic Iron Ore Corp. (CVE:FEO) shares dropped 14.6% during trading on Thursday . The company 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 Up 17.1 %

The stock has a market capitalization of C$22.57 million, a PE ratio of -10.25 and a beta of 0.99. The firm has a 50 day moving average price of C$0.19 and a 200 day moving average price of C$0.16. 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 Transactions 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 stock was bought at an average price of C$0.18 per share, for a total transaction of C$126,000.00. Company 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.