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

Oceanic Iron Ore Corp. (CVE:FEO) traded down 14.6% on Friday . The stock traded as low as C$0.18 and last traded at C$0.18. 136,850 shares changed hands during mid-day trading, an increase of 34% from the average session 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 price of C$0.19 and a two-hundred day moving average price of 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 cap of C$22.57 million, a PE ratio of -10.25 and a beta of 0.99.

Insider Transactions at Oceanic Iron Ore

In other Oceanic Iron Ore news, Director Christopher Ross Batalha purchased 700,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were acquired at an average price of C$0.18 per share, for a total transaction 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.