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

Oceanic Iron Ore Corp. (CVE:FEO) shares traded down 22.2% during mid-day trading on Saturday . The stock 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 business has a 50-day moving average price of C$0.18 and a 200 day moving average price of C$0.14. The stock has a market cap of C$19.26 million, a PE ratio of -8.75 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 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 firm’s stock in a transaction dated 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 sold 494,500 shares of company stock worth $129,248 over the last quarter. 107.26% of the stock is currently owned by company 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.