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

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

The company has a market cap of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99. The company has a 50-day simple moving average of C$0.18 and a 200-day simple moving average of C$0.14. The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03.

Insider Activity at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha purchased 700,000 shares of Oceanic Iron Ore stock in a transaction dated Friday, November 22nd. The stock was bought 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 company’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 value of C$95,850.00. Insiders have sold a total of 494,500 shares of company stock worth $129,248 over the last three months. 107.26% of the stock is currently owned by corporate insiders.

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.