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

Oceanic Iron Ore Corp. (CVE:FEO) dropped 14.6% on Friday . The company traded as low as C$0.18 and last traded at C$0.18. Approximately 136,850 shares were traded during mid-day trading, an increase of 34% from the average daily volume of 102,229 shares. The stock had previously closed at C$0.21.

Oceanic Iron Ore Price Performance

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 firm has a market capitalization of C$19.26 million, a PE ratio of -8.75 and a beta of 0.99. The company has a 50-day moving average price of C$0.19 and a 200-day moving average price of C$0.16.

Insider Activity at Oceanic Iron Ore

In other news, Director Christopher Ross Batalha bought 700,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were purchased at an average price of C$0.18 per share, for a total transaction of C$126,000.00. 107.26% of the stock is currently 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.