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

Oceanic Iron Ore Corp. (CVE:FEO) shares traded down 22.2% on Friday . The company traded as low as C$0.18 and last traded at C$0.18. 110,530 shares traded hands during 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 Stock Performance

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. The company’s 50-day simple moving average is C$0.18 and its 200-day simple moving average is C$0.14. The company has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79.

Insider Buying and Selling

In related news, Director Christopher Ross Batalha bought 700,000 shares of Oceanic Iron Ore stock in a transaction that occurred on Friday, November 22nd. The shares were acquired at an average cost 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 firm’s 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. Insiders sold a total of 494,500 shares of company stock valued at $129,248 in the last three months. 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.