Oceanic Iron Ore (CVE:FEO) Shares Down 22.2% – Time to Sell?

Oceanic Iron Ore Corp. (CVE:FEO) was down 22.2% during trading on Saturday . The stock traded as low as C$0.18 and last traded at C$0.18. Approximately 110,530 shares changed hands during mid-day trading, a decline of 27% from the average daily 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 quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79. The company has a market cap of C$19.26 million, a P/E ratio of -8.75 and a beta of 0.99. The business has a 50-day moving average price of C$0.18 and a two-hundred day moving average price of C$0.14.

Insiders Place Their Bets

In other Oceanic Iron Ore news, Director Gordon Keep sold 355,000 shares of Oceanic Iron Ore stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total transaction of C$95,850.00. Also, Director Christopher Ross Batalha bought 700,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were acquired at an average price of C$0.18 per share, with a total value of C$126,000.00. In the last three months, insiders sold 494,500 shares of company stock valued at $129,248. 107.26% of the stock is currently owned by insiders.

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.