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

by · The Cerbat Gem

Shares of Oceanic Iron Ore Corp. (CVE:FEO – Get Free Report) were down 22.2% on Friday . The stock 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 Price Performance

The company’s 50-day moving average is C$0.18 and its 200-day moving average is C$0.14. 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.

Insiders Place Their Bets

In other news, Director Christopher Ross Batalha bought 700,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was acquired at an average price of C$0.18 per share, for a total transaction of C$126,000.00. Also, Director Gordon Keep sold 355,000 shares of the business’s stock in a transaction that occurred 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. Insiders have sold a total of 494,500 shares of company stock valued at $129,248 over the last quarter. Company insiders own 107.26% of the company’s stock.

About Oceanic Iron Ore

(Get Free Report)

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.

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