Oceanic Iron Ore (CVE:FEO) Shares Down 22.2% – What’s Next?

Shares of Oceanic Iron Ore Corp. (CVE:FEO) traded down 22.2% during mid-day trading on Saturday . The stock traded as low as C$0.18 and last traded at C$0.18. 110,530 shares traded hands during 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 has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79. The company has a market cap of C$19.26 million, a PE ratio of -8.75 and a beta of 0.99. The firm has a 50 day moving average of C$0.18 and a two-hundred day moving average of C$0.14.

Insider Transactions at Oceanic Iron Ore

In related news, Director Gordon Keep sold 355,000 shares of the business’s 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 acquired 700,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were acquired at an average cost of C$0.18 per share, with a total value of C$126,000.00. Over the last three months, insiders have sold 494,500 shares of company stock valued at $129,248. 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.