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

Oceanic Iron Ore Corp. (CVE:FEO) fell 14.6% on Thursday . The company traded as low as C$0.18 and last traded at C$0.18. 136,850 shares traded hands during 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 business has a 50 day simple moving average of C$0.19 and a two-hundred day simple 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. The stock has a market cap of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99.

Insider Buying and Selling at Oceanic Iron Ore

In other news, Director Christopher Ross Batalha purchased 700,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was acquired at an average cost of C$0.18 per share, for a total transaction of C$126,000.00. 107.26% of the stock is owned by insiders.

Oceanic Iron Ore Company Profile

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.