Oceanic Iron Ore (CVE:FEO) Trading Down 22.2% – Here’s What Happened

Oceanic Iron Ore Corp. (CVE:FEO) shares were down 22.2% during trading on Friday . The company traded as low as C$0.18 and last traded at C$0.18. Approximately 110,530 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 151,612 shares. The stock had previously closed at C$0.23.

Oceanic Iron Ore Price Performance

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 company has a market capitalization of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99. The company has a 50 day moving average price of C$0.18 and a 200 day moving average price of C$0.14.

Insiders Place Their Bets

In related news, Director Christopher Ross Batalha acquired 700,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was acquired at an average cost of C$0.18 per share, with a total value of C$126,000.00. Also, Director Gordon Keep sold 355,000 shares of the firm’s 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. In the last three months, insiders sold 494,500 shares of company stock valued at $129,248. 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.