Oceanic Iron Ore (CVE:FEO) Trading Down 7.3% – Should You Sell?

Shares of Oceanic Iron Ore Corp. (CVE:FEO) fell 7.3% on Thursday . The company traded as low as C$0.19 and last traded at C$0.19. 113,850 shares traded hands during trading, an increase of 12% from the average session volume of 101,377 shares. The stock had previously closed at C$0.21.

Oceanic Iron Ore Price Performance

The stock’s fifty day simple moving average is C$0.19 and its 200 day simple moving average is C$0.16. 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 firm has a market capitalization of C$19.26 million, a P/E ratio of -8.75 and a beta of 0.99.

Insiders Place Their Bets

In related news, Director Christopher Ross Batalha purchased 700,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were acquired at an average price of C$0.18 per share, for a total transaction of C$126,000.00. 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.