TMC the metals (NASDAQ:TMC) Stock Price Down 4% - Time to Sell?

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report)'s stock price traded down 4% during trading on Monday . The company traded as low as $6.60 and last traded at $6.83. 4,350,820 shares were traded during trading, a decline of 2% from the average session volume of 4,419,585 shares. The stock had previously closed at $7.11.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. HC Wainwright assumed coverage on shares of TMC the metals in a report on Tuesday, May 20th. They set a "buy" rating and a $5.50 price objective for the company. Wedbush raised shares of TMC the metals from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $6.00 to $11.00 in a report on Wednesday, June 25th.

TMC the metals Stock Performance

The firm has a market cap of $2.38 billion, a price-to-earnings ratio of -28.61 and a beta of 1.57. The business's 50-day moving average is $4.74 and its 200-day moving average is $2.81.

TMC the metals (NASDAQ:TMC - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.03). Equities research analysts expect that TMC the metals company Inc. will post -0.22 EPS for the current fiscal year.

Insider Activity

In other TMC the metals news, Director Brendan May sold 44,204 shares of the firm's stock in a transaction dated 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 owned 197,586 shares in the company, valued at approximately $1,458,184.68. This trade represents a 18.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Anthony O'sullivan sold 164,317 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $4.49, for a total transaction of $737,783.33. Following the completion of the sale, the insider 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 sold a total of 233,521 shares of company stock valued at $1,259,009 in the last 90 days. Corporate insiders own 28.50% of the company's stock.

Institutional Investors Weigh In On TMC the metals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Manhattan CO. LLC. grew its position in shares of 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. Old West Investment Management LLC grew its position in shares of TMC the metals by 100.0% during the 1st 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 period. Jane Street Group LLC grew its position in shares of TMC the metals by 7,330.9% during the 4th quarter. Jane Street Group LLC now owns 1,345,812 shares of the company's stock worth $1,507,000 after buying an additional 1,364,424 shares during the period. Shay Capital LLC grew its position in shares of 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 buying an additional 844,904 shares during the period. Finally, Baird Financial Group Inc. grew its position in shares of TMC the metals by 35.1% during the 1st quarter. Baird Financial Group Inc. now owns 2,946,027 shares of the company's stock worth $5,067,000 after buying an additional 766,167 shares during the period. Institutional investors and hedge funds 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.