Oceanic Iron Ore (CVE:FEO) Stock Price Down 14.6% – Here’s Why

Shares of Oceanic Iron Ore Corp. (CVE:FEO) were down 14.6% on Friday . The stock traded as low as C$0.18 and last traded at C$0.18. Approximately 136,850 shares changed hands 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 Price Performance

The company has a 50 day moving average of C$0.19 and a two-hundred day moving average of C$0.16. The firm has a market cap of C$22.57 million, a P/E ratio of -10.25 and a beta of 0.99. The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79.

Insider Activity at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha bought 700,000 shares of Oceanic Iron Ore stock in a transaction dated Friday, November 22nd. The stock was acquired at an average cost of C$0.18 per share, with a total value of C$126,000.00. Company 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.