HC Wainwright Has Lowered Expectations for TMC the metals (NASDAQ:TMC) Stock Price

Key Points

• HC Wainwright cut its TMC price target from $11.75 to $5.50 but maintained a Buy rating; the new target implies 139% upside from the current share price.
• Analyst sentiment is mixed but leans positive: MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $8.88.
• TMC shares fell 6.1% and opened at $2.30. The company reported a quarterly loss of $0.06 per share, matching analysts’ expectations, on revenue of $0.08 million.

TMC the metals (NASDAQ:TMC - Get Free Report) had its price objective decreased by analysts at HC Wainwright from $11.75 to $5.50 in a note issued to investors on Friday, Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price objective suggests a potential upside of 139.13% from the stock's current price.

Other analysts have also recently issued reports about the company. Zacks Research raised TMC the metals from a "strong sell" rating to a "hold" rating in a research report on Wednesday, November 4th. Stifel Nicolaus assumed coverage on TMC the metals in a research report on Friday, August 28th. They issued a "buy" rating and a $10.00 target price for the company. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of TMC the metals in a research note on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $8.88.

TMC the metals Trading Down 6.1%

Shares of TMC opened at $2.30 on Friday. TMC the metals has a 1-year low of $1.91 and a 1-year high of $10.05. The firm's 50-day moving average price is $3.25 and its 200-day moving average price is $4.67. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -3.15 and a beta of 2.22.

TMC the metals (NASDAQ:TMC - Get Free Report) last released its quarterly earnings results on Thursday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.06). The company had revenue of $0.08 million during the quarter. On average, research analysts forecast that TMC the metals will post -0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TMC. GK Wealth Management LLC bought a new stake in TMC the metals during the third quarter worth about $29,000. Coastal Bridge Advisors LLC bought a new position in shares of TMC the metals during the second quarter valued at approximately $44,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of TMC the metals during the second quarter valued at approximately $44,000. Consolidated Capital Management LLC purchased a new position in shares of TMC the metals during the third quarter valued at approximately $38,000. Finally, Lazari Capital Management Inc. purchased a new position in shares of TMC the metals during the third quarter valued at approximately $38,000. 4.39% of the stock is owned by hedge funds and other institutional investors.

TMC the metals Company Profile

TMC the metals company Inc. is a deep-sea minerals exploration and development company focused on polymetallic nodules found on the ocean floor. The nodules contain metals including nickel, copper, cobalt and manganese, which are used in batteries, stainless steel and other industrial applications. The company's exploration activities are centered in the Clarion-Clipperton Zone of the Pacific Ocean. Through subsidiaries sponsored by Pacific island nations, TMC holds exploration contracts with the International Seabed Authority.

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