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

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price dropped 14.6% on Thursday . The company traded as low as C$0.18 and last traded at C$0.18. Approximately 136,850 shares traded hands during mid-day 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 Up 17.1 %

The firm has a market capitalization of C$22.57 million, a P/E ratio of -10.25 and a beta of 0.99. The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03. The business’s fifty day moving average price is C$0.19 and its two-hundred day moving average price is C$0.16.

Insider Activity

In related news, Director Christopher Ross Batalha bought 700,000 shares of the stock in a transaction that occurred on 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. Company 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.