Oceanic Iron Ore (CVE:FEO) Stock Price Down 22.2% – Should You Sell?

Oceanic Iron Ore Corp. (CVE:FEO)’s share price dropped 22.2% on Friday . The stock traded as low as C$0.18 and last traded at C$0.18. Approximately 110,530 shares traded hands during trading, a decline of 27% from the average daily volume of 151,612 shares. The stock had previously closed at C$0.23.

Oceanic Iron Ore Stock Down 22.2 %

The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79. The firm has a market capitalization of C$19.26 million, a PE ratio of -8.75 and a beta of 0.99. The business has a 50-day moving average price of C$0.18 and a 200-day moving average price of C$0.14.

Insider Buying and Selling at Oceanic Iron Ore

In other Oceanic Iron Ore news, Director Gordon Keep sold 355,000 shares of Oceanic Iron Ore stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total transaction of C$95,850.00. Also, Director Christopher Ross Batalha purchased 700,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was purchased at an average cost of C$0.18 per share, with a total value of C$126,000.00. Insiders sold a total of 494,500 shares of company stock worth $129,248 in the last three months. 107.26% of the stock is owned by corporate insiders.

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.