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

Oceanic Iron Ore Corp. (CVE:FEO) shares were down 14.6% on Thursday . The stock traded as low as C$0.18 and last traded at C$0.18. Approximately 136,850 shares were traded during 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 Stock Performance

The company has a market cap of C$19.26 million, a P/E ratio of -8.75 and a beta of 0.99. 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 50-day moving average is C$0.19 and its two-hundred day moving average is C$0.16.

Insider Transactions at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha purchased 700,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was bought at an average price of C$0.18 per share, for a total transaction of C$126,000.00. 107.26% of the stock is currently owned by company 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.