Oceanic Iron Ore (CVE:FEO) Shares Down 22.2% – Should You Sell?

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

Oceanic Iron Ore Trading Down 22.2 %

The stock has a market cap of C$19.26 million, a PE ratio of -8.75 and a beta of 0.99. The company’s fifty day moving average is C$0.18 and its 200-day moving average is C$0.14. The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43.

Insider Buying and Selling at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha purchased 700,000 shares of the business’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. Also, Director Gordon Keep sold 355,000 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total transaction of C$95,850.00. Over the last ninety days, insiders sold 494,500 shares of company stock valued at $129,248. 107.26% of the stock is 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.