Oceanic Iron Ore (CVE:FEO) Trading Down 22.2% – What’s Next?

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price fell 22.2% during mid-day trading on Saturday . The company traded as low as C$0.18 and last traded at C$0.18. 110,530 shares were traded during 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 Price Performance

The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79. The company’s fifty day moving average price is C$0.18 and its 200 day moving average price is C$0.14. The company has a market capitalization of C$19.26 million, a P/E ratio of -8.75 and a beta of 0.99.

Insiders Place Their Bets

In related news, Director Gordon Keep sold 355,000 shares of Oceanic Iron Ore stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total value of C$95,850.00. Also, Director Christopher Ross Batalha bought 700,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were acquired at an average price of C$0.18 per share, with a total value of C$126,000.00. Insiders have sold a total of 494,500 shares of company stock worth $129,248 in the last 90 days. 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.