Oceanic Iron Ore (CVE:FEO) Shares Down 14.6% – What’s Next?

Oceanic Iron Ore Corp. (CVE:FEO) was down 14.6% during mid-day trading on Friday . The stock traded as low as C$0.18 and last traded at C$0.18. Approximately 136,850 shares traded hands during mid-day 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 market cap of C$22.57 million, a P/E ratio of -10.25 and a beta of 0.99. The company has a fifty day simple moving average of C$0.19 and a 200-day simple moving average 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.

Insiders Place Their Bets

In other news, Director Christopher Ross Batalha acquired 700,000 shares of the stock in a transaction on 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. Corporate insiders own 107.26% of the company’s stock.

Oceanic Iron Ore Company Profile

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.