Oceanic Iron Ore (CVE:FEO) Trading Down 22.2% – Here’s What Happened

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price traded down 22.2% during trading on Saturday . The company traded as low as C$0.18 and last traded at C$0.18. 110,530 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 151,612 shares. The stock had previously closed at C$0.23.

Oceanic Iron Ore Price Performance

The company’s 50 day simple moving average is C$0.18 and its two-hundred day simple moving average is C$0.14. 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 stock has a market capitalization of C$19.26 million, a P/E ratio of -8.75 and a beta of 0.99.

Insider Buying and Selling

In other news, Director Gordon Keep sold 355,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total transaction of C$95,850.00. Also, Director Christopher Ross Batalha purchased 700,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were purchased at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. Insiders have sold a total of 494,500 shares of company stock worth $129,248 in the last three months. 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.