Oceanic Iron Ore (CVE:FEO) Stock Price Passes Above 200-Day Moving Average - Time to Sell?

Key Points

• Oceanic Iron Ore Corp.'s stock price has exceeded its 200-day moving average of C$0.28, trading as high as C$0.85 on recent trading days.
• The company's market capitalization is approximately C$99.07 million, with a notable P/E ratio of -6.46 and a high debt-to-equity ratio of 15.79.
• Insider activity has seen significant sales, with insiders offloading 1,779,500 shares valued at $385,221 in the last ninety days.

Oceanic Iron Ore Corp. (CVE:FEO - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$0.28 and traded as high as C$0.85. Oceanic Iron Ore shares last traded at C$0.84, with a volume of 93,460 shares changing hands.

Oceanic Iron Ore Stock Down 5.3%

The company has a market cap of C$104.97 million, a P/E ratio of -6.85 and a beta of 2.49. The stock has a 50-day moving average of C$0.49 and a two-hundred day moving average of C$0.30. 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 Transactions at Oceanic Iron Ore

In related news, Director Gordon Keep sold 100,000 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was 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 business's stock in a transaction that occurred 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 three months, insiders sold 1,779,500 shares of company stock valued at $385,221. 9.00% of the stock is currently owned by corporate 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.