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

Oceanic Iron Ore Corp. (CVE:FEO)’s share price was down 22.2% during trading on Friday . The company traded as low as C$0.18 and last traded at C$0.18. Approximately 110,530 shares changed hands during trading, a decline of 27% from the average daily volume of 151,612 shares. The stock had previously closed at C$0.23.

Oceanic Iron Ore Trading Down 22.2 %

The firm has a 50-day moving average of C$0.18 and a two-hundred day moving average of C$0.14. The firm has a market capitalization of C$19.26 million, a P/E ratio of -8.75 and a beta of 0.99. The company has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79.

Insider Transactions at Oceanic Iron Ore

In other news, Director Gordon Keep sold 355,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total transaction of C$95,850.00. Also, Director Christopher Ross Batalha acquired 700,000 shares of the business’s stock in a transaction that occurred 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. Over the last 90 days, insiders sold 494,500 shares of company stock valued at $129,248. 107.26% of the stock is currently owned by insiders.

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.