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

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price fell 22.2% during mid-day trading on Saturday . The stock traded as low as C$0.18 and last traded at C$0.18. 110,530 shares changed hands during mid-day 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 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 has a market cap of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99. The business has a fifty day simple moving average of C$0.18 and a 200 day simple moving average of C$0.14.

Insider Activity at Oceanic Iron Ore

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