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

Oceanic Iron Ore Corp. (CVE:FEO) dropped 14.6% during mid-day trading on Friday . The stock traded as low as C$0.18 and last traded at C$0.18. Approximately 136,850 shares traded hands during 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 company has a market cap of C$22.57 million, a P/E ratio of -10.25 and a beta of 0.99. The business has a fifty day simple moving average of C$0.19 and a 200 day simple moving average of C$0.16. The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03.

Insider Buying and Selling

In other Oceanic Iron Ore news, Director Christopher Ross Batalha bought 700,000 shares of the stock in a transaction on Friday, November 22nd. The stock was purchased at an average price 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.