Oceanic Iron Ore (CVE:FEO) Trading Down 22.2% – Time to Sell?

Oceanic Iron Ore Corp. (CVE:FEO) shares traded down 22.2% on Friday . The company traded as low as C$0.18 and last traded at C$0.18. 110,530 shares traded hands during mid-day 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 Stock Down 22.2 %

The firm has a market cap of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99. The firm has a fifty day simple moving average of C$0.18 and a 200-day simple moving average of C$0.14. The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03.

Insider Transactions at Oceanic Iron Ore

In other Oceanic Iron Ore news, Director Gordon Keep sold 355,000 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of C$0.27, for a total transaction of C$95,850.00. Also, 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. In the last 90 days, insiders sold 494,500 shares of company stock worth $129,248. 107.26% of the stock is owned by 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.