Oceanic Iron Ore (CVE:FEO) Stock Price Up 17.1% – What’s Next?

Oceanic Iron Ore Corp. (CVE:FEO) shares shot up 17.1% during mid-day trading on Friday . The company traded as high as C$0.21 and last traded at C$0.21. 26,550 shares traded hands during trading, a decline of 73% from the average session volume of 99,526 shares. The stock had previously closed at C$0.18.

Oceanic Iron Ore Trading Up 17.1 %

The business’s 50 day simple moving average is C$0.19 and its 200 day simple moving average is C$0.16. 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 company has a market capitalization of C$22.57 million, a price-to-earnings ratio of -10.25 and a beta of 0.99.

Insiders Place Their Bets

In other Oceanic Iron Ore news, Director Christopher Ross Batalha acquired 700,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were purchased at an average cost 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.