Equities research analysts at HC Wainwright began coverage on shares of TMC the metals (NASDAQ:TMC - Get Free Report) in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $5.50 price target on the stock. HC Wainwright's target price would suggest a potential upside of 23.60% from the company's previous close.
Separately, Wedbush restated a "neutral" rating and set a $6.00 price objective on shares of TMC the metals in a research report on Friday.
Read Our Latest Stock Report on TMC
TMC the metals Price Performance
NASDAQ TMC opened at $4.45 on Tuesday. The company's fifty day moving average is $2.46 and its two-hundred day moving average is $1.71. TMC the metals has a 52-week low of $0.72 and a 52-week high of $4.73. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -14.35 and a beta of 1.33.
TMC the metals (NASDAQ:TMC - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.03). As a group, sell-side analysts expect that TMC the metals will post -0.22 earnings per share for the current fiscal year.
Insider Activity at TMC the metals
In other TMC the metals news, CFO Craig Shesky sold 353,702 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $1.66, for a total value of $587,145.32. Following the completion of the sale, the chief financial officer now owns 1,145,717 shares in the company, valued at approximately $1,901,890.22. This trade represents a 23.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 30.00% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of TMC. First Manhattan CO. LLC. raised its position in shares of TMC the metals by 115.2% during the fourth quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company's stock worth $20,974,000 after acquiring an additional 10,025,000 shares during the last quarter. Old West Investment Management LLC boosted its holdings 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 worth $7,345,000 after buying an additional 2,135,038 shares during the last quarter. Baird Financial Group Inc. increased its stake in shares of TMC the metals by 35.1% in the 1st quarter. Baird Financial Group Inc. now owns 2,946,027 shares of the company's stock valued at $5,067,000 after acquiring an additional 766,167 shares during the last quarter. Jane Street Group LLC lifted its holdings in TMC the metals by 7,330.9% during the fourth quarter. Jane Street Group LLC now owns 1,345,812 shares of the company's stock worth $1,507,000 after acquiring an additional 1,364,424 shares in the last quarter. Finally, Shay Capital LLC increased its stake in TMC the metals by 965.6% during the 4th quarter. Shay Capital LLC now owns 932,404 shares of the company's stock worth $1,044,000 after purchasing an additional 844,904 shares in the last quarter. Institutional investors own 4.39% of the company's stock.
About TMC the metals
(
Get Free Report)
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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