Oceanic Iron Ore (CVE:FEO) Stock Price Down 14.6% – Here’s What Happened

Oceanic Iron Ore Corp. (CVE:FEO) shares traded down 14.6% during trading on Friday . The stock traded as low as C$0.18 and last traded at C$0.18. 136,850 shares changed hands during trading, an increase of 34% from the average session volume of 102,229 shares. The stock had previously closed at C$0.21.

Oceanic Iron Ore Trading Down 14.6 %

The firm’s 50-day simple moving average is C$0.19 and its 200 day simple moving average is C$0.16. The firm has a market capitalization of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99. The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43.

Insider Transactions at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha purchased 700,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was bought at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. 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.