Oceanic Iron Ore (CVE:FEO) Trading Down 27.7% After Insider Selling

Oceanic Iron Ore Corp. (CVE:FEO) shares dropped 27.7% during trading on Thursday after an insider sold shares in the company. The stock traded as low as C$0.22 and last traded at C$0.24. Approximately 566,004 shares traded hands during mid-day trading, an increase of 273% from the average daily volume of 151,618 shares. The stock had previously closed at C$0.33.

Specifically, 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 transaction of C$95,850.00.

Oceanic Iron Ore Stock Up 6.4 %

The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79. The stock has a market capitalization of C$27.52 million, a PE ratio of -11.75 and a beta of 0.99. The firm’s fifty day moving average is C$0.14 and its 200-day moving average is C$0.10.

Oceanic Iron Ore (CVE:FEO) last issued its earnings results on Thursday, August 22nd. The company reported C($0.02) earnings per share (EPS) for the quarter. On average, equities research analysts predict that Oceanic Iron Ore Corp. will post -0.06 earnings per share for the current year.

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.