TMC the metals (NASDAQ:TMC) Hits New 1-Year High - What's Next?

Shares of TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $5.40 and last traded at $5.16, with a volume of 7018902 shares. The stock had previously closed at $4.34.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TMC shares. HC Wainwright initiated coverage on shares of TMC the metals in a report on Tuesday, May 20th. They set a "buy" rating and a $5.50 target price for the company. Wedbush reaffirmed a "neutral" rating and issued a $6.00 price objective on shares of TMC the metals in a research report on Friday, May 16th.

TMC the metals Stock Performance

The firm has a market capitalization of $1.87 billion, a PE ratio of -16.56 and a beta of 1.46. The business's 50 day moving average price is $3.45 and its 200-day moving average price is $2.17.

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

Insider Buying and Selling

In other TMC the metals news, insider Anthony O'sullivan sold 164,317 shares of TMC the metals stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $4.49, for a total value of $737,783.33. Following the transaction, the insider now directly owns 1,125,667 shares of the company's stock, valued at $5,054,244.83. The trade was a 12.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Craig Shesky sold 353,702 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $1.66, for a total value of $587,145.32. Following the completion of the transaction, the chief financial officer now directly owns 1,145,717 shares in the company, valued at $1,901,890.22. The trade was a 23.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 28.50% of the company's stock.

Hedge Funds Weigh In On TMC the metals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. acquired a new stake in TMC the metals in the 4th quarter valued at about $28,000. SBI Securities Co. Ltd. acquired a new stake in shares of TMC the metals in the 4th quarter valued at approximately $94,000. Raymond James Financial Inc. acquired a new position in TMC the metals in the 4th quarter valued at approximately $28,000. Independent Advisor Alliance bought a new stake in TMC the metals in the fourth quarter valued at approximately $42,000. Finally, Gray Wealth Management Inc. boosted its position in shares of TMC the metals by 59.7% during the 4th quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company's stock valued at $27,000 after purchasing an additional 8,863 shares in the last quarter. 4.39% of the stock is owned by institutional investors and hedge funds.

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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