Oceanic Iron Ore (CVE:FEO) Shares Down 14.6% – Should You Sell?

Oceanic Iron Ore Corp. (CVE:FEO)’s share price traded down 14.6% during mid-day trading on Friday . The stock traded as low as C$0.18 and last traded at C$0.18. 136,850 shares changed hands during trading, an increase of 34% from the average session volume of 102,229 shares. The stock had previously closed at C$0.21.

Oceanic Iron Ore Trading Down 14.6 %

The business’s fifty day moving average price is C$0.19 and its 200 day moving average price is C$0.16. 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.

Insider Buying and Selling

In related news, Director Christopher Ross Batalha purchased 700,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were bought at an average price of C$0.18 per share, with a total value of C$126,000.00. 107.26% of the stock is owned by company 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.