TMC the metals company Inc. (NASDAQ:TMC) Director Sells $326,225.52 in Stock

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) Director Brendan May sold 44,204 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $7.38, for a total value of $326,225.52. Following the completion of the sale, the director now directly owns 197,586 shares of the company's stock, valued at $1,458,184.68. This represents 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 available at this link.

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 shares were sold at an average price of $7.80, for a total value of $195,000.00.

TMC the metals Stock Performance

TMC stock traded down $0.37 during midday trading on Friday, hitting $6.81. 9,395,431 shares of the stock were exchanged, compared to its average volume of 4,203,760. The stock's 50-day moving average price is $4.29 and its 200-day moving average price is $2.54. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of -29.61 and a beta of 1.46. TMC the metals company Inc. has a fifty-two week low of $0.72 and a fifty-two week high of $8.12.

TMC the metals (NASDAQ:TMC - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Research analysts anticipate that TMC the metals company Inc. will post -0.22 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented 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 target for the company. Wedbush raised TMC the metals from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $6.00 to $11.00 in a report on Wednesday.

Hedge Funds Weigh In On TMC the metals

Several hedge funds have recently bought and sold shares of the stock. Allworth Financial LP increased its position in TMC the metals by 48.0% during the first quarter. Allworth Financial LP now owns 14,796 shares of the company's stock worth $25,000 after buying an additional 4,796 shares in the last quarter. Gray Wealth Management Inc. increased its position in TMC the metals by 59.7% during the fourth quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company's stock worth $27,000 after buying an additional 8,863 shares in the last quarter. Sprott Inc. purchased a new position in TMC the metals during the first quarter worth $26,000. Independent Advisor Alliance increased its position in TMC the metals by 53.1% during the first quarter. Independent Advisor Alliance now owns 57,665 shares of the company's stock worth $99,000 after buying an additional 20,000 shares in the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new position in TMC the metals during the fourth quarter worth $28,000. Hedge funds and other institutional investors own 4.39% of the company's stock.

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.

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