Oceanic Iron Ore (CVE:FEO) Trading Down 14.6% – Time to Sell?

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price fell 14.6% during mid-day trading on Friday . The company traded as low as C$0.18 and last traded at C$0.18. 136,850 shares were traded during mid-day trading, an increase of 34% from the average session volume of 102,229 shares. The stock had previously closed at C$0.21.

Oceanic Iron Ore Stock Up 17.1 %

The firm has a fifty day moving average price of C$0.19 and a 200 day moving average price of C$0.16. The firm has a market capitalization of C$22.57 million, a price-to-earnings ratio of -10.25 and a beta of 0.99. The company has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79.

Insiders Place Their Bets

In related news, Director Christopher Ross Batalha bought 700,000 shares of Oceanic Iron Ore stock in a transaction dated Friday, November 22nd. The shares were bought at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. Insiders own 107.26% of the company’s stock.

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.