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

Shares of Oceanic Iron Ore Corp. (CVE:FEO) dropped 14.6% during mid-day trading 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 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 Price Performance

The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43. The stock’s fifty day simple moving average is C$0.19 and its 200-day simple moving average is C$0.16. The company has a market capitalization of C$19.26 million, a P/E ratio of -8.75 and a beta of 0.99.

Insider Buying and Selling

In other news, Director Christopher Ross Batalha acquired 700,000 shares of the company’s 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. Company insiders own 107.26% of the company’s stock.

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.