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

Oceanic Iron Ore Corp. (CVE:FEO)’s share price was down 22.2% 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 Performance

The company has a 50-day simple moving average of C$0.18 and a two-hundred day simple moving average of C$0.14. The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03. The firm has a market capitalization of C$19.26 million, a P/E ratio of -8.75 and a beta of 0.99.

Insider Buying and Selling at Oceanic Iron Ore

In related news, Director Christopher Ross Batalha purchased 700,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were purchased at an average cost 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 business’s 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 currently owned by corporate 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.