Oceanic Iron Ore (CVE:FEO) Trading Down 14.6% – Here’s What Happened

Oceanic Iron Ore Corp. (CVE:FEO)’s share price traded down 14.6% during mid-day trading on Thursday . 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 company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03. The business’s 50 day simple moving average is C$0.19 and its 200-day simple moving average is C$0.16. The stock has a market capitalization of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99.

Insider Activity at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha acquired 700,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were purchased at an average price of C$0.18 per share, for a total transaction of C$126,000.00. Company 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.