Oceanic Iron Ore (CVE:FEO) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Oceanic Iron Ore Corp. (CVE:FEO) stock price has crossed above its 200-day moving average of C$0.22, currently trading at C$0.50 with a peak at C$0.52.
• Insider trading activity includes significant sales, with Director Gordon Keep selling 100,000 shares for C$29,000 and Frank Giustra selling 1.6 million shares over recent transactions.
• The company has a low quick ratio of 0.43 and a market capitalization of C$55.04 million, indicating potential financial vulnerabilities despite recent stock performance.

Oceanic Iron Ore Corp. (CVE:FEO - ) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$0.22 and traded as high as C$0.52. Oceanic Iron Ore shares last traded at C$0.50, with a volume of 380,865 shares trading hands.

Oceanic Iron Ore Trading Up 6.4%

The firm's 50-day simple moving average is C$0.27 and its 200-day simple moving average is C$0.22. 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 firm has a market capitalization of C$55.04 million, a PE ratio of -25.00 and a beta of 0.99.

Insider Activity

In other Oceanic Iron Ore news, Director Gordon Keep sold 100,000 shares of the company's stock in a transaction dated 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 company's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of C$0.21, for a total transaction of C$342,520.90. Over the last 90 days, insiders have sold 1,859,500 shares of company stock valued at $402,621. Company insiders own 107.26% 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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