Oceanic Iron Ore (CVE:FEO) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Oceanic Iron Ore Corp.'s stock price has surged above its 200-day moving average, reaching a high of C$0.95 before closing at C$0.94.
• The company's market capitalization is approximately C$110.87 million, with a significant debt-to-equity ratio of 15.79.
• Insiders have sold a total of 1,779,500 shares valued at C$385,221 over the past 90 days, with 9.00% of the stock owned by corporate insiders.

Oceanic Iron Ore Corp. (CVE:FEO - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$0.31 and traded as high as C$0.95. Oceanic Iron Ore shares last traded at C$0.94, with a volume of 302,246 shares trading hands.

Oceanic Iron Ore Trading Down 4.2%

The stock has a market cap of C$107.33 million, a P/E ratio of -7.00 and a beta of 2.49. The company has a quick ratio of 0.43, a current ratio of 0.03 and a debt-to-equity ratio of 15.79. The business's 50 day simple moving average is C$0.54 and its two-hundred day simple moving average is C$0.32.

Insider Buying and Selling

In other news, Director Gordon Keep sold 100,000 shares of Oceanic Iron Ore stock in a transaction on Monday, July 7th. The shares were sold at an average price of C$0.29, for a total transaction of C$29,000.00. Also, insider Frank Giustra sold 1,629,500 shares of the stock in a transaction on Thursday, June 26th. The shares were sold at an average price of C$0.21, for a total value of C$342,520.90. In the last quarter, insiders sold 1,779,500 shares of company stock valued at $385,221. 9.00% of the stock is owned by company insiders.

Oceanic Iron Ore Company Profile

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.