TMC the metals company Inc. (NASDAQ:TMC) Director Brendan May Sells 25,000 Shares

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) Director Brendan May sold 25,000 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $7.80, for a total value of $195,000.00. Following the completion of the transaction, the director directly owned 241,790 shares of the company's stock, valued at $1,885,962. This represents a 9.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Brendan May also recently made the following trade(s):

• On Thursday, June 26th, Brendan May sold 44,204 shares of TMC the metals stock. The shares were sold at an average price of $7.38, for a total value of $326,225.52.

TMC the metals Stock Down 3.1%

Shares of TMC stock traded down $0.21 during trading hours on Monday, hitting $6.60. 8,910,987 shares of the company's stock traded hands, compared to its average volume of 4,234,075. The stock's fifty day simple moving average is $4.29 and its two-hundred day simple moving average is $2.57. TMC the metals company Inc. has a 12-month low of $0.72 and a 12-month high of $8.12. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of -28.69 and a beta of 1.45.

TMC the metals (NASDAQ:TMC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.03). On average, equities analysts forecast that TMC the metals company Inc. will post -0.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on TMC. HC Wainwright began coverage on TMC the metals in a report on Tuesday, May 20th. They issued a "buy" rating and a $5.50 price objective for the company. Wedbush upgraded shares of TMC the metals from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $6.00 to $11.00 in a research note on Wednesday, June 25th.

Hedge Funds Weigh In On TMC the metals

Large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. purchased a new stake in TMC the metals during the 1st quarter valued at about $211,000. Baird Financial Group Inc. raised its holdings in TMC the metals by 35.1% in the first quarter. Baird Financial Group Inc. now owns 2,946,027 shares of the company's stock worth $5,067,000 after buying an additional 766,167 shares during the last quarter. Magnetar Financial LLC bought a new position in shares of TMC the metals in the first quarter worth approximately $86,000. OMERS ADMINISTRATION Corp bought a new position in shares of TMC the metals in the first quarter worth approximately $79,000. Finally, Old West Investment Management LLC grew its holdings in shares of TMC the metals by 100.0% during the first quarter. Old West Investment Management LLC now owns 4,270,076 shares of the company's stock valued at $7,345,000 after buying an additional 2,135,038 shares during the last quarter. Hedge funds and other institutional investors own 4.39% of the company's stock.

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 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.