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

Oceanic Iron Ore Corp. (CVE:FEO)’s share price dropped 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 firm has a market cap of C$19.26 million, a P/E ratio of -8.75 and a beta of 0.99. The stock has a fifty day simple moving average of C$0.18 and a 200 day simple moving average of C$0.14. The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03.

Insiders Place Their Bets

In other news, Director Christopher Ross Batalha acquired 700,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was bought 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 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 value of C$95,850.00. In the last quarter, insiders sold 494,500 shares of company stock valued at $129,248. Corporate 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.