Oceanic Iron Ore (CVE:FEO) Trading Down 14.6% – Time to Sell?

Oceanic Iron Ore Corp. (CVE:FEO) fell 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 traded 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 Stock Up 17.1 %

The firm has a market cap of C$22.57 million, a price-to-earnings ratio of -10.25 and a beta of 0.99. The stock has a 50-day moving average of C$0.19 and a 200-day moving average of C$0.16. The company has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79.

Insider Activity

In other Oceanic Iron Ore news, Director Christopher Ross Batalha acquired 700,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was acquired at an average cost of C$0.18 per share, with a total value of C$126,000.00. Corporate 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.