Oceanic Iron Ore (CVE:FEO) Shares Down 14.6% – Time to Sell?

Shares of Oceanic Iron Ore Corp. (CVE:FEO) dropped 14.6% on Friday . The stock traded as low as C$0.18 and last traded at C$0.18. Approximately 136,850 shares were traded during trading, an increase of 34% from the average daily volume of 102,229 shares. The stock had previously closed at C$0.21.

Oceanic Iron Ore Stock Up 17.1 %

The stock’s fifty day simple moving average is C$0.19 and its two-hundred day simple moving average is C$0.16. 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 company has a market capitalization of C$22.57 million, a price-to-earnings ratio of -10.25 and a beta of 0.99.

Insider Buying and Selling

In related news, Director Christopher Ross Batalha bought 700,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were bought at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. 107.26% of the stock is owned by company insiders.

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.