Brendan May Sells 44,204 Shares of TMC the metals company Inc. (NASDAQ:TMC) Stock

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) Director Brendan May sold 44,204 shares of TMC the metals stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $7.38, for a total value of $326,225.52. Following the sale, the director owned 197,586 shares in the company, valued at $1,458,184.68. The trade was a 18.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, June 25th, Brendan May sold 25,000 shares of TMC the metals stock. The stock was sold at an average price of $7.80, for a total transaction of $195,000.00.

TMC the metals Trading Down 3.1%

Shares of NASDAQ TMC traded down $0.21 during midday trading on Monday, hitting $6.60. The company's stock had a trading volume of 8,910,987 shares, compared to its average volume of 4,234,075. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of -28.69 and a beta of 1.45. The stock has a fifty day moving average price of $4.29 and a 200 day moving average price of $2.57. TMC the metals company Inc. has a one year low of $0.72 and a one year high of $8.12.

TMC the metals (NASDAQ:TMC - Get Free Report) last issued its earnings results 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 research analysts predict that TMC the metals company Inc. will post -0.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

TMC has been the topic of several research analyst reports. HC Wainwright initiated coverage on TMC the metals in a research note on Tuesday, May 20th. They issued a "buy" rating and a $5.50 price objective on the stock. Wedbush upgraded TMC the metals from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $6.00 to $11.00 in a research note on Wednesday, June 25th.

Institutional Trading of TMC the metals

A number of hedge funds and other institutional investors have recently made changes to their positions in TMC. Goldman Sachs Group Inc. bought a new position in TMC the metals in the 1st quarter worth about $211,000. Baird Financial Group Inc. lifted its holdings in shares of 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 in the last quarter. Magnetar Financial LLC bought a new position in shares of TMC the metals in the first quarter valued at approximately $86,000. OMERS ADMINISTRATION Corp bought a new position in shares of TMC the metals in the first quarter valued at approximately $79,000. Finally, Old West Investment Management LLC grew its stake in 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 acquiring an additional 2,135,038 shares in the last quarter. 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 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.