Oceanic Iron Ore (CVE:FEO) Trading Down 22.2% – What’s Next?

Oceanic Iron Ore Corp. (CVE:FEO)’s share price fell 22.2% on Saturday . The company traded as low as C$0.18 and last traded at C$0.18. 110,530 shares were traded 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 stock has a 50-day moving average price of C$0.18 and a 200 day moving average price of C$0.14. The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43. The firm has a market cap of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99.

Insider Buying and Selling at Oceanic Iron Ore

In other news, Director Christopher Ross Batalha acquired 700,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was acquired 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 on Tuesday, October 29th. The stock was sold at an average price of C$0.27, for a total transaction of C$95,850.00. In the last 90 days, insiders have sold 494,500 shares of company stock valued at $129,248. 107.26% of the stock is owned by corporate 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.