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

Oceanic Iron Ore Corp. (CVE:FEO)’s share price was down 22.2% during mid-day trading on Saturday . The company traded as low as C$0.18 and last traded at C$0.18. Approximately 110,530 shares changed hands 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 Stock Down 22.2 %

The firm has a market cap of C$19.26 million, a P/E ratio of -8.75 and a beta of 0.99. The firm’s 50-day moving average price is C$0.18 and its 200 day moving average price is C$0.14. The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43.

Insiders Place Their Bets

In other news, Director Gordon Keep sold 355,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of C$0.27, for a total value of C$95,850.00. Also, Director Christopher Ross Batalha purchased 700,000 shares of the firm’s stock in a transaction dated 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. Insiders have sold a total of 494,500 shares of company stock valued at $129,248 in the last quarter. 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.