Oceanic Iron Ore (CVE:FEO) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

Oceanic Iron Ore Corp. (CVE:FEO)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$0.14 and traded as low as C$0.13. Oceanic Iron Ore shares last traded at C$0.14, with a volume of 16,000 shares.

Oceanic Iron Ore Price Performance

The company has a market cap of C$14.86 million, a P/E ratio of -6.75 and a beta of 0.99. 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 firm has a fifty day moving average price of C$0.19 and a 200 day moving average price of C$0.14.

Insiders Place Their Bets

In other news, Director Gordon Keep sold 355,000 shares of Oceanic Iron Ore stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of C$0.27, for a total value of C$95,850.00. Also, Director Christopher Ross Batalha purchased 700,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were purchased at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. Insiders have sold a total of 541,464 shares of company stock valued at $133,734 in the last 90 days. 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.