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

Oceanic Iron Ore Corp. (CVE:FEO) shares were 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 Stock Performance

The stock has a fifty 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 stock has a market capitalization of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99.

Insider Activity at Oceanic Iron Ore

In other news, Director Christopher Ross Batalha bought 700,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was acquired 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 company’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. Insiders have sold a total of 494,500 shares of company stock worth $129,248 in the last 90 days. 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.