Oceanic Iron Ore (CVE:FEO) Trading Down 14.6% – Should You Sell?

Oceanic Iron Ore Corp. (CVE:FEO)’s share price dropped 14.6% on Friday . The stock traded as low as C$0.18 and last traded at C$0.18. Approximately 136,850 shares changed hands during trading, an increase of 34% from the average daily volume of 102,229 shares. The stock had previously closed at C$0.21.

Oceanic Iron Ore Price Performance

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 stock has a market capitalization of C$19.26 million, a P/E ratio of -8.75 and a beta of 0.99. The company’s 50 day simple moving average is C$0.19 and its two-hundred day simple moving average is C$0.16.

Insider Activity

In related news, Director Christopher Ross Batalha purchased 700,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were acquired at an average cost of C$0.18 per share, with a total value of C$126,000.00. 107.26% of the stock is owned by 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.