Oceanic Iron Ore (CVE:FEO) Trading Down 14.6% – Should You Sell?

Oceanic Iron Ore Corp. (CVE:FEO) shares traded down 14.6% during trading on Friday . The company traded as low as C$0.18 and last traded at C$0.18. 136,850 shares were traded during trading, an increase of 34% from the average session volume of 102,229 shares. The stock had previously closed at C$0.21.

Oceanic Iron Ore Price Performance

The stock’s 50-day moving average price is C$0.19 and its 200 day moving average price is C$0.16. The firm has a market cap of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99. The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79.

Insider Activity

In other Oceanic Iron Ore news, Director Christopher Ross Batalha bought 700,000 shares of the stock in a transaction that occurred on 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. 107.26% of the stock is owned by company 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.