Oceanic Iron Ore (CVE:FEO) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Oceanic Iron Ore Corp. (CVE:FEO)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$0.34 and traded as high as C$0.90. Oceanic Iron Ore shares last traded at C$0.89, with a volume of 182,549 shares traded.

Oceanic Iron Ore Stock Performance

The firm’s 50 day moving average is C$0.59 and its 200 day moving average is C$0.34. The company has a debt-to-equity ratio of 15.79, a quick ratio of 0.43 and a current ratio of 0.03. The stock has a market cap of C$132.11 million, a P/E ratio of -6.85 and a beta of 2.49.

Insider Activity

In other news, Director Gordon Keep sold 100,000 shares of the stock in a transaction 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. Insiders sold 150,000 shares of company stock worth $42,700 over the last 90 days. Corporate insiders own 9.00% of the company’s stock.

About Oceanic Iron Ore

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.