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

Oceanic Iron Ore Corp. (CVE:FEO) shares dropped 14.6% on Thursday . The company traded as low as C$0.18 and last traded at C$0.18. Approximately 136,850 shares were traded during mid-day 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 Trading Up 17.1 %

The stock has a market capitalization of C$22.57 million, a P/E ratio of -10.25 and a beta of 0.99. The company has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79. The stock’s fifty day moving average price is C$0.19 and its two-hundred day moving average price is C$0.16.

Insiders Place Their Bets

In related news, Director Christopher Ross Batalha bought 700,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was bought at an average price of C$0.18 per share, with a total value of C$126,000.00. 107.26% of the stock is currently owned by insiders.

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.