Oceanic Iron Ore (CVE:FEO) Stock Passes 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 - Get Free Report) 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 traded.

Oceanic Iron Ore Stock Up 17.0%

The company has a debt-to-equity ratio of 15.79, a current ratio of 0.03 and a quick ratio of 0.43. The company has a market cap of C$60.54 million, a PE ratio of -27.50 and a beta of 0.99. The company has a fifty day moving average price of C$0.30 and a 200 day moving average price of C$0.23.

Insider Activity

In other Oceanic Iron Ore news, Director Gordon Keep sold 100,000 shares of the company'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 value of C$29,000.00. Also, insider Frank Giustra sold 1,629,500 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of C$0.21, for a total value of C$342,520.90. Insiders have sold 1,829,500 shares of company stock valued at $396,321 in the last three months. 107.26% of the stock is owned by 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.