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

Oceanic Iron Ore Corp. (CVE:FEO) shares fell 22.2% during mid-day trading on Friday . The company traded as low as C$0.18 and last traded at C$0.18. 110,530 shares traded hands during trading, a decline of 25% from the average session volume of 146,570 shares. The stock had previously closed at C$0.23.

Oceanic Iron Ore Trading Down 22.2 %

The stock has a market capitalization of C$19.26 million, a P/E ratio of -8.75 and a beta of 0.99. The stock’s fifty day moving average price is C$0.18 and its 200 day moving average price is C$0.14. 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 related news, Director Gordon Keep sold 355,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total value of C$95,850.00. Also, Director Christopher Ross Batalha bought 700,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were acquired at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. Insiders have sold 494,500 shares of company stock worth $129,248 in the last three months. Corporate 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.