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

by · The Markets Daily

Shares of Oceanic Iron Ore Corp. (CVE:FEO – Get Free Report) fell 22.2% 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 Stock Performance

The company 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’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 debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03.

Insider Buying and Selling at Oceanic Iron Ore

In other Oceanic Iron Ore news, Director Christopher Ross Batalha bought 700,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were purchased at an average price of C$0.18 per share, with a total value of C$126,000.00. Also, Director Gordon Keep sold 355,000 shares of Oceanic Iron Ore stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total value of C$95,850.00. Insiders have sold 494,500 shares of company stock worth $129,248 over the last quarter. 107.26% of the stock is owned by corporate insiders.

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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