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

Oceanic Iron Ore Corp. (CVE:FEO) shares dropped 22.2% during trading on Friday . The stock traded as low as C$0.18 and last traded at C$0.18. Approximately 110,530 shares traded hands during 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 Stock Down 22.2 %

The firm has a 50 day simple moving average of C$0.18 and a two-hundred day simple moving average of C$0.14. 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 company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79.

Insider Activity at Oceanic Iron Ore

In related news, Director Gordon Keep sold 355,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of C$0.27, for a total transaction of C$95,850.00. Also, Director Christopher Ross Batalha acquired 700,000 shares of Oceanic Iron Ore stock in a transaction that occurred on Friday, November 22nd. The shares were purchased at an average price of C$0.18 per share, for a total transaction of C$126,000.00. Insiders have sold 494,500 shares of company stock valued at $129,248 over the last ninety days. 107.26% of the stock is owned by corporate 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.