Oceanic Iron Ore (CVE:FEO) Stock Price Down 22.2% – What’s Next?

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price fell 22.2% on Friday . The company 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 27% from the average session volume of 151,612 shares. The stock had previously closed at C$0.23.

Oceanic Iron Ore Trading Down 22.2 %

The company has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79. The stock has a market cap of C$19.26 million, a P/E ratio of -8.75 and a beta of 0.99. The business’s fifty day simple moving average is C$0.18 and its 200 day simple moving average is C$0.14.

Insider Buying and Selling

In other news, Director Christopher Ross Batalha bought 700,000 shares of the stock in a transaction on Friday, November 22nd. The stock was purchased at an average price of C$0.18 per share, for a total transaction of C$126,000.00. Also, Director Gordon Keep sold 355,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total value of C$95,850.00. Insiders sold a total of 494,500 shares of company stock valued at $129,248 over the last three months. 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.