Oceanic Iron Ore (CVE:FEO) Shares Down 14.6% – Time to Sell?

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

Oceanic Iron Ore Price Performance

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$22.57 million, a price-to-earnings ratio of -10.25 and a beta of 0.99. The company’s 50-day simple moving average is C$0.19 and its 200 day simple moving average is C$0.16.

Insiders Place Their Bets

In other Oceanic Iron Ore news, Director Christopher Ross Batalha purchased 700,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were bought at an average cost of C$0.18 per share, with a total value of C$126,000.00. Company insiders own 107.26% of the company’s stock.

Oceanic Iron Ore Company Profile

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.