Oceanic Iron Ore (CVE:FEO) Stock Passes Above 200 Day Moving Average - Here's What Happened

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 - )'s stock price passed 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 traded.

Oceanic Iron Ore Stock Performance

The company has a 50 day moving average price of C$0.44 and a 200-day moving average price of C$0.28. The company has a market cap of C$99.07 million, a P/E ratio of -6.46 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.

Insider Activity

In related news, Director Gordon Keep sold 100,000 shares of the firm's stock in a transaction dated 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 firm's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of C$0.21, for a total value of C$342,520.90. Insiders have sold 1,779,500 shares of company stock valued at $385,221 in the last ninety days. Company insiders own 9.00% of the company's stock.

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.

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