TMC the metals (NASDAQ:TMC) Sees Strong Trading Volume - Time to Buy?

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) shares saw an uptick in trading volume on Wednesday . 4,458,304 shares changed hands during trading, an increase of 125% from the previous session's volume of 1,979,530 shares.The stock last traded at $2.98 and had previously closed at $2.87.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TMC shares. Wedbush restated a "neutral" rating and set a $4.00 price objective on shares of TMC the metals in a research report on Friday, March 28th. Alliance Global Partners started coverage on shares of TMC the metals in a report on Wednesday, January 15th. They set a "buy" rating and a $3.75 price target for the company.

TMC the metals Trading Down 17.6 %

The stock has a market capitalization of $848.90 million, a price-to-earnings ratio of -7.87 and a beta of 1.46. The company's 50-day simple moving average is $1.93 and its 200-day simple moving average is $1.40.

TMC the metals (NASDAQ:TMC - Get Free Report) last released its quarterly earnings results on Thursday, March 27th. The company reported ($0.05) EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.01. The company had revenue of ($20.18) million during the quarter. On average, equities research analysts expect that TMC the metals company Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Activity at TMC the metals

In related news, CFO Craig Shesky sold 353,702 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $1.66, for a total transaction of $587,145.32. Following the transaction, the chief financial officer now directly owns 1,145,717 shares of the company's stock, valued at $1,901,890.22. This represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 30.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TMC the metals

Several institutional investors have recently made changes to their positions in TMC. First Manhattan CO. LLC. raised its stake in TMC the metals by 115.2% during the 4th quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company's stock worth $20,974,000 after buying an additional 10,025,000 shares during the period. Jane Street Group LLC raised its position in shares of 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 purchasing an additional 1,364,424 shares during the period. Old West Investment Management LLC lifted its holdings in shares of TMC the metals by 168.0% in the 4th quarter. Old West Investment Management LLC now owns 2,135,038 shares of the company's stock worth $2,391,000 after purchasing an additional 1,338,423 shares in the last quarter. Shay Capital LLC grew its position in TMC the metals by 965.6% in the 4th quarter. Shay Capital LLC now owns 932,404 shares of the company's stock valued at $1,044,000 after purchasing an additional 844,904 shares during the period. Finally, Tidal Investments LLC raised its holdings in TMC the metals by 32.6% during the third quarter. Tidal Investments LLC now owns 485,332 shares of the company's stock worth $514,000 after buying an additional 119,335 shares during the last quarter. Institutional investors and hedge funds 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.