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

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price traded down 22.2% during trading on Friday . The stock traded as low as C$0.18 and last traded at C$0.18. 110,530 shares traded hands 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 Trading Down 22.2 %

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

Insider Activity

In other Oceanic Iron Ore news, Director Gordon Keep sold 355,000 shares of the business’s stock in a transaction dated 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 acquired 700,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were purchased at an average cost of C$0.18 per share, with a total value of C$126,000.00. In the last three months, insiders have sold 494,500 shares of company stock worth $129,248. 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.