Traders Buy Large Volume of Call Options on TMC the metals (NASDAQ:TMC)

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) was the target of some unusual options trading activity on Monday. Stock traders bought 37,008 call options on the stock. This is an increase of 764% compared to the average volume of 4,283 call options.

Analyst Upgrades and Downgrades

TMC has been the subject of several recent analyst reports. Wedbush restated a "neutral" rating and issued a $4.00 price target on shares of TMC the metals in a research note on Friday, March 28th. Alliance Global Partners initiated coverage on TMC the metals in a research report on Wednesday, January 15th. They set a "buy" rating and a $3.75 price objective on the stock.

Insider Activity

In related news, CFO Craig Shesky sold 353,702 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $1.66, for a total transaction of $587,145.32. Following the sale, the chief financial officer now directly owns 1,145,717 shares of the company's stock, valued at $1,901,890.22. This trade represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 30.00% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TMC. First Manhattan CO. LLC. raised its holdings in TMC the metals by 115.2% in the 4th quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company's stock valued at $20,974,000 after acquiring an additional 10,025,000 shares during the last quarter. Jane Street Group LLC increased its stake in TMC the metals by 7,330.9% in the fourth quarter. Jane Street Group LLC now owns 1,345,812 shares of the company's stock valued at $1,507,000 after purchasing an additional 1,364,424 shares during the last quarter. Old West Investment Management LLC boosted its stake in TMC the metals by 168.0% in the 4th quarter. Old West Investment Management LLC now owns 2,135,038 shares of the company's stock worth $2,391,000 after buying an additional 1,338,423 shares during the last quarter. Shay Capital LLC grew its holdings in TMC the metals by 965.6% in the 4th quarter. Shay Capital LLC now owns 932,404 shares of the company's stock valued at $1,044,000 after buying an additional 844,904 shares during the period. Finally, Tidal Investments LLC increased its stake in shares of TMC the metals by 32.6% during the 3rd quarter. Tidal Investments LLC now owns 485,332 shares of the company's stock valued at $514,000 after acquiring an additional 119,335 shares during the last quarter. Institutional investors and hedge funds own 4.39% of the company's stock.

TMC the metals Stock Up 6.1 %

NASDAQ:TMC traded up $0.17 during trading hours on Friday, reaching $2.96. 13,108,184 shares of the stock were exchanged, compared to its average volume of 2,078,302. TMC the metals has a twelve month low of $0.72 and a twelve month high of $3.57. The business has a 50-day moving average of $1.93 and a two-hundred day moving average of $1.39. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -9.55 and a beta of 1.46.

TMC the metals (NASDAQ:TMC - Get Free Report) last posted its quarterly earnings data on Thursday, March 27th. The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.01. The company had revenue of ($20.18) million for the quarter. On average, research analysts forecast that TMC the metals will post -0.22 EPS for the current fiscal year.

About TMC the metals

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 California. It primarily explores for nickel, cobalt, copper, and manganese products. The company holds exploration and commercial rights in three polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean.