TMC the metals (NASDAQ:TMC) Stock Rating Reaffirmed by Wedbush

Wedbush restated their neutral rating on shares of TMC the metals (NASDAQ:TMC - Free Report) in a research report released on Thursday morning, Benzinga reports. They currently have a $4.00 target price on the stock.

TMC the metals Stock Performance

Shares of NASDAQ:TMC traded down $0.08 during mid-day trading on Thursday, hitting $1.40. The stock had a trading volume of 1,485,284 shares, compared to its average volume of 1,812,727. TMC the metals has a 12-month low of $0.65 and a 12-month high of $3.20. The company has a market cap of $445.55 million, a PE ratio of -5.29 and a beta of 1.74. The company's 50 day moving average is $1.61 and its 200-day moving average is $1.35.

TMC the metals (NASDAQ:TMC - Get Free Report) last issued its earnings results on Monday, March 25th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.05. On average, equities research analysts predict that TMC the metals will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Craig Shesky sold 233,424 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $1.61, for a total transaction of $375,812.64. Following the completion of the sale, the chief financial officer now directly owns 947,242 shares in the company, valued at $1,525,059.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other TMC the metals news, insider Anthony O'sullivan sold 50,000 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $1.33, for a total transaction of $66,500.00. Following the transaction, the insider now directly owns 946,829 shares of the company's stock, valued at $1,259,282.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Craig Shesky sold 233,424 shares of TMC the metals stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $1.61, for a total transaction of $375,812.64. Following the completion of the transaction, the chief financial officer now directly owns 947,242 shares in the company, valued at approximately $1,525,059.62. The disclosure for this sale can be found here. 30.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TMC the metals

A number of hedge funds have recently bought and sold shares of TMC. Hubbell Strickland Wealth Management LLC lifted its stake in shares of TMC the metals by 48.4% in the first quarter. Hubbell Strickland Wealth Management LLC now owns 39,559 shares of the company's stock valued at $57,000 after buying an additional 12,909 shares during the period. Barclays PLC raised its stake in shares of TMC the metals by 142.0% in the third quarter. Barclays PLC now owns 35,065 shares of the company's stock valued at $34,000 after purchasing an additional 20,573 shares in the last quarter. Sunpointe LLC bought a new position in TMC the metals in the fourth quarter worth $25,000. Arizona State Retirement System acquired a new stake in TMC the metals during the third quarter worth $32,000. Finally, Ancora Advisors LLC bought a new stake in TMC the metals in the 3rd quarter valued at $50,000. 4.39% of the stock is currently 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.