Oceanic Iron Ore (CVE:FEO) Stock Price Down 14.6% – Here’s What Happened

Oceanic Iron Ore Corp. (CVE:FEO) was down 14.6% on Friday . The company traded as low as C$0.18 and last traded at C$0.18. Approximately 136,850 shares changed hands 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 Stock Down 14.6 %

The firm has a market capitalization of C$19.26 million, a price-to-earnings ratio of -8.75 and a beta of 0.99. The stock has a fifty day moving average of C$0.19 and a two-hundred day moving average of 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.

Insider Activity at Oceanic Iron Ore

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, for a total transaction of C$126,000.00. 107.26% of the stock is currently owned by company insiders.

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.