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

Shares of Oceanic Iron Ore Corp. (CVE:FEO) were down 22.2% during trading on Saturday . The company traded as low as C$0.18 and last traded at C$0.18. Approximately 110,530 shares changed hands 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 quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79. The firm’s fifty day moving average is C$0.18 and its two-hundred day moving average is C$0.14. The firm has a market cap 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 other news, Director Christopher Ross Batalha acquired 700,000 shares of the stock in a transaction on Friday, November 22nd. The stock was acquired 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 company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of C$0.27, for a total transaction of C$95,850.00. Insiders have sold 494,500 shares of company stock worth $129,248 over the last 90 days. 107.26% of the stock is owned by company 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.