Oceanic Iron Ore (CVE:FEO) Shares Up 66.7% – What’s Next?

Oceanic Iron Ore Corp. (CVE:FEO)’s stock price shot up 66.7% during trading on Thursday . The stock traded as high as C$0.29 and last traded at C$0.28. 818,754 shares were traded during trading, an increase of 344% from the average session volume of 184,422 shares. The stock had previously closed at C$0.17.

Oceanic Iron Ore Stock Up 66.7 %

The stock has a market capitalization of C$30.27 million, a price-to-earnings ratio of -13.75 and a beta of 0.99. The firm has a 50-day moving average of C$0.18 and a 200 day moving average of C$0.14. 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 at Oceanic Iron Ore

In other news, Director Gordon Keep sold 355,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of C$0.27, for a total transaction of C$95,850.00. Also, Director Christopher Ross Batalha purchased 700,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was bought at an average price of C$0.18 per share, with a total value of C$126,000.00. In the last three months, insiders sold 541,464 shares of company stock valued at $133,734. 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.