Oceanic Iron Ore (CVE:FEO) Stock Price Up 66.7% – Time to Buy?

Oceanic Iron Ore Corp. (CVE:FEO)’s share price traded up 66.7% on Thursday . The company traded as high as C$0.29 and last traded at C$0.28. 818,754 shares were traded during trading, an increase of 344% from the average session volume of 184,422 shares. The stock had previously closed at C$0.17.

Oceanic Iron Ore Price Performance

The firm has a 50-day simple moving average of C$0.18 and a 200-day simple moving average of C$0.14. The firm has a market cap of C$30.27 million, a P/E ratio of -13.75 and a beta of 0.99. The company has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79.

Insider Buying and Selling at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha purchased 700,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were acquired 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 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. Over the last ninety days, insiders sold 541,464 shares of company stock valued at $133,734. 107.26% of the stock is currently owned by 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.