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

Oceanic Iron Ore Corp. (CVE:FEO)’s share price fell 14.6% on Friday . The company traded as low as C$0.18 and last traded at C$0.18. 136,850 shares changed hands during mid-day 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 stock has a market capitalization of C$19.26 million, a P/E ratio of -8.75 and a beta of 0.99. 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 business’s 50 day simple moving average is C$0.19 and its 200-day simple moving average is C$0.16.

Insider Transactions at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha acquired 700,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were acquired at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. Insiders own 107.26% of the company’s stock.

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.