Oceanic Iron Ore (CVE:FEO) Shares Down 22.2% – Here’s Why

Shares of Oceanic Iron Ore Corp. (CVE:FEO) fell 22.2% during trading on Friday . The stock traded as low as C$0.18 and last traded at C$0.18. 110,530 shares were traded during trading, a decline of 25% from the average session volume of 146,570 shares. The stock had previously closed at C$0.23.

Oceanic Iron Ore Trading Down 22.2 %

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 stock’s fifty day moving average price is C$0.18 and its two-hundred day moving average price is C$0.14. The company has a current ratio of 0.03, a quick ratio of 0.43 and a debt-to-equity ratio of 15.79.

Insiders Place Their Bets

In other news, Director Gordon Keep sold 355,000 shares of Oceanic Iron Ore stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of C$0.27, for a total value of C$95,850.00. Also, Director Christopher Ross Batalha bought 700,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were bought at an average price of C$0.18 per share, with a total value of C$126,000.00. Insiders sold 494,500 shares of company stock valued at $129,248 over the last three months. 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.