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

Oceanic Iron Ore Corp. (CVE:FEO) shares traded down 22.2% on Friday . The stock traded as low as C$0.18 and last traded at C$0.18. 110,530 shares were traded during mid-day 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 company has a market capitalization of C$19.26 million, a P/E ratio of -8.75 and a beta of 0.99. The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43. The business’s 50-day moving average price is C$0.18 and its two-hundred day moving average price is C$0.14.

Insiders Place Their Bets

In related news, Director Gordon Keep sold 355,000 shares of the stock in a transaction that occurred 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. Also, Director Christopher Ross Batalha purchased 700,000 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was bought at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. Over the last ninety days, insiders have sold 494,500 shares of company stock worth $129,248. 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.