Oceanic Iron Ore (CVE:FEO) Trading Down 22.2% – What’s Next?

Oceanic Iron Ore Corp. (CVE:FEO) shares were down 22.2% during mid-day trading on Saturday . The stock traded as low as C$0.18 and last traded at C$0.18. Approximately 110,530 shares traded hands during trading, a decline of 27% from the average daily volume of 151,612 shares. The stock had previously closed at C$0.23.

Oceanic Iron Ore Stock Down 22.2 %

The company 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 current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79. The business has a fifty day moving average of C$0.18 and a 200 day moving average of C$0.14.

Insider Activity

In other Oceanic Iron Ore news, Director Gordon Keep sold 355,000 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of C$0.27, for a total value of C$95,850.00. Also, Director Christopher Ross Batalha acquired 700,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were bought at an average cost of C$0.18 per share, with a total value of C$126,000.00. Over the last quarter, insiders sold 494,500 shares of company stock valued at $129,248. 107.26% of the stock is currently 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.