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

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price dropped 14.6% during mid-day trading on Friday . The company traded as low as C$0.18 and last traded at C$0.18. Approximately 136,850 shares traded hands during 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 business has a 50-day moving average of C$0.19 and a 200-day moving average of C$0.16. 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 stock has a market capitalization of C$22.57 million, a price-to-earnings ratio of -10.25 and a beta of 0.99.

Insider Buying and Selling

In other news, Director Christopher Ross Batalha bought 700,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was bought at an average cost of C$0.18 per share, with a total value of C$126,000.00. Corporate insiders own 107.26% of the company’s stock.

Oceanic Iron Ore Company Profile

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.