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

Shares of Oceanic Iron Ore Corp. (CVE:FEO) were down 14.6% during trading on Thursday . The company traded as low as C$0.18 and last traded at C$0.18. Approximately 136,850 shares were traded 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 Performance

The company has a fifty day moving average price of C$0.19 and a two-hundred day moving average price of 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 P/E ratio of -10.25 and a beta of 0.99.

Insiders Place Their Bets

In related news, Director Christopher Ross Batalha bought 700,000 shares of the business’s stock in a transaction 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. 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.