Oceanic Iron Ore (CVE:FEO) Trading Down 22.2% – Here’s What Happened

Oceanic Iron Ore Corp. (CVE:FEO)’s share price dropped 22.2% on Friday . The stock traded as low as C$0.18 and last traded at C$0.18. Approximately 110,530 shares traded hands during mid-day 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 Stock Performance

The firm’s 50-day simple moving average is C$0.18 and its two-hundred day simple moving average is C$0.14. The stock has a market capitalization of C$19.26 million, a PE ratio of -8.75 and a beta of 0.99. The company has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79.

Insider Activity at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha acquired 700,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were acquired 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 the business’s 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. In the last quarter, insiders sold 494,500 shares of company stock valued at $129,248. 107.26% of the stock is owned by corporate insiders.

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.