Oceanic Iron Ore (CVE:FEO) Trading Down 14.6% – Time to Sell?

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

Oceanic Iron Ore Stock Up 17.1 %

The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79. The stock has a 50-day simple moving average of C$0.19 and a two-hundred day simple moving average of C$0.16. The firm has a market cap of C$22.57 million, a PE ratio of -10.25 and a beta of 0.99.

Insider Activity at Oceanic Iron Ore

In other Oceanic Iron Ore news, Director Christopher Ross Batalha bought 700,000 shares of Oceanic Iron Ore stock in a transaction that occurred on Friday, November 22nd. The shares were bought 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 currently owned by 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.