Oceanic Iron Ore (CVE:FEO) Stock Price Down 22.2% – Time to Sell?

Oceanic Iron Ore Corp. (CVE:FEO)’s share price was down 22.2% during trading on Saturday . The company traded as low as C$0.18 and last traded at C$0.18. Approximately 110,530 shares changed 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 Trading Down 22.2 %

The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43. The business has a 50-day simple moving average of C$0.18 and a two-hundred day simple moving average of C$0.14. 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

In other news, Director Christopher Ross Batalha acquired 700,000 shares of Oceanic Iron Ore stock in a transaction dated Friday, November 22nd. The stock was bought at an average price of C$0.18 per share, for a total transaction of C$126,000.00. Also, 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 value of C$95,850.00. In the last three months, insiders have sold 494,500 shares of company stock valued at $129,248. 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.