TMC the metals (NASDAQ:TMC) Stock Price Down 1.8% - Time to Sell?

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) shares fell 1.8% on Wednesday . The stock traded as low as $7.25 and last traded at $7.44. 3,568,923 shares were traded during mid-day trading, a decline of 24% from the average session volume of 4,697,144 shares. The stock had previously closed at $7.57.

Analysts Set New Price Targets

Several brokerages recently weighed in on TMC. 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, June 25th. 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 objective for the company.

TMC the metals Trading Down 3.3%

The firm has a market cap of $2.77 billion, a PE ratio of -33.22 and a beta of 1.57. The stock has a fifty day simple moving average of $5.47 and a two-hundred day simple moving average of $3.18.

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

Insider Transactions at TMC the metals

In other TMC the metals news, Director Brendan May sold 44,204 shares of TMC the metals stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $7.38, for a total transaction of $326,225.52. Following the completion of the transaction, the director owned 197,586 shares of the company's stock, valued at $1,458,184.68. The trade was a 18.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Anthony O'sullivan sold 164,317 shares of TMC the metals stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $4.49, for a total value of $737,783.33. Following the transaction, the insider directly owned 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 disclosure for this sale can be found here. Insiders have sold a total of 233,521 shares of company stock valued at $1,259,009 in the last ninety days. Insiders own 28.50% of the company's stock.

Institutional Trading of TMC the metals

A number of large investors have recently modified their holdings of TMC. Raymond James Financial Inc. bought a new stake in shares of TMC the metals during the 4th quarter valued at about $28,000. Independent Advisor Alliance bought a new stake in TMC the metals in the 4th quarter worth approximately $42,000. Prudential Financial Inc. bought a new stake in TMC the metals in the 4th quarter worth approximately $47,000. Old West Investment Management LLC lifted its position in 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 buying an additional 1,338,423 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in TMC the metals in the 4th quarter worth approximately $65,000. 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.