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

Oceanic Iron Ore Corp. (CVE:FEO) dropped 22.2% during trading on Friday . The company traded as low as C$0.18 and last traded at C$0.18. Approximately 110,530 shares changed hands during trading, a decline of 25% from the average daily volume of 146,570 shares. The stock had previously closed at C$0.23.

Oceanic Iron Ore Stock Performance

The firm has a market cap of C$19.26 million, a P/E ratio of -8.75 and a beta of 0.99. The firm’s fifty day moving average price is C$0.18 and its 200 day moving average price is 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.

Insiders Place Their Bets

In other news, Director Christopher Ross Batalha purchased 700,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was acquired at an average cost of C$0.18 per share, with a total value of C$126,000.00. Also, Director Gordon Keep sold 355,000 shares of Oceanic Iron Ore 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 transaction of C$95,850.00. Insiders sold a total of 494,500 shares of company stock worth $129,248 over the last 90 days. Company insiders own 107.26% of the company’s stock.

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.