TMC the metals (NASDAQ:TMC) Shares Gap Down to $1.69

Shares of TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $1.69, but opened at $1.63. TMC the metals shares last traded at $1.66, with a volume of 118,341 shares trading hands.

TMC the metals Price Performance

The firm has a fifty day simple moving average of $1.52 and a 200 day simple moving average of $1.26. The company has a market cap of $512.38 million, a price-to-earnings ratio of -8.05 and a beta of 1.82.

TMC the metals (NASDAQ:TMC - Get Free Report) last announced its quarterly earnings results on Monday, March 25th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.05. Analysts expect that TMC the metals company Inc. will post -0.2 earnings per share for the current year.

Insider Transactions at TMC the metals

In other news, insider Anthony O'sullivan sold 50,000 shares of the firm's stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $1.33, for a total value of $66,500.00. Following the sale, the insider now owns 946,829 shares in the company, valued at $1,259,282.57. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Craig Shesky sold 233,424 shares of the firm's stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $1.61, for a total value of $375,812.64. Following the completion of the transaction, the chief financial officer now directly owns 947,242 shares of the company's stock, valued at $1,525,059.62. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Anthony O'sullivan sold 50,000 shares of the firm's stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $1.33, for a total value of $66,500.00. Following the completion of the transaction, the insider now directly owns 946,829 shares of the company's stock, valued at $1,259,282.57. The disclosure for this sale can be found here. 31.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TMC. First Manhattan Co. lifted its holdings in shares of TMC the metals by 442.0% during the fourth quarter. First Manhattan Co. now owns 5,420,000 shares of the company's stock valued at $4,173,000 after acquiring an additional 4,420,000 shares during the period. Baird Financial Group Inc. lifted its holdings in shares of TMC the metals by 7,391.3% during the first quarter. Baird Financial Group Inc. now owns 1,198,600 shares of the company's stock valued at $3,104,000 after acquiring an additional 1,182,600 shares during the period. Bank of Montreal Can lifted its holdings in shares of TMC the metals by 5,685.4% during the first quarter. Bank of Montreal Can now owns 607,470 shares of the company's stock valued at $1,331,000 after acquiring an additional 596,970 shares during the period. First Manhattan CO. LLC. lifted its holdings in shares of TMC the metals by 9.0% during the first quarter. First Manhattan CO. LLC. now owns 5,910,000 shares of the company's stock valued at $4,899,000 after acquiring an additional 490,000 shares during the period. Finally, Luminus Management LLC bought a new position in shares of TMC the metals during the first quarter valued at $971,000. 4.39% of the stock is owned by institutional investors.

TMC the metals Company Profile

TMC the metals company Inc, a deep-sea minerals exploration company, focuses on the collection, processing, and refining of polymetallic nodules found on the seafloor in the Clarion Clipperton Zone (CCZ) in the south-west of San Diego, California. It primarily explores for nickel, cobalt, copper, and manganese products.