Oceanic Iron Ore (CVE:FEO) Stock Price Down 14.6% – Here’s Why

Oceanic Iron Ore Corp. (CVE:FEO)’s share price was down 14.6% on Thursday . The company traded as low as C$0.18 and last traded at C$0.18. Approximately 136,850 shares changed hands 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 firm has a market capitalization of C$22.57 million, a PE ratio of -10.25 and a beta of 0.99. The business’s 50 day moving average is C$0.19 and its two-hundred day moving average is C$0.16. The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03.

Insider Activity at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha bought 700,000 shares of Oceanic Iron Ore stock in a transaction on Friday, November 22nd. The stock was acquired 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 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.