TMC the metals (NASDAQ:TMC) Stock Price Down 4.6% - What's Next?

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report)'s share price fell 4.6% on Thursday . The stock traded as low as $4.56 and last traded at $4.51. 4,530,659 shares were traded during trading, an increase of 39% from the average session volume of 3,266,697 shares. The stock had previously closed at $4.72.

Wall Street Analyst Weigh In

A number of research firms recently commented on TMC. HC Wainwright assumed coverage on TMC the metals in a research note on Tuesday, May 20th. They set a "buy" rating and a $5.50 price objective on the stock. Wedbush reaffirmed a "neutral" rating and issued a $6.00 target price on shares of TMC the metals in a research note on Friday, May 16th.

TMC the metals Stock Down 11.0%

The stock's 50 day simple moving average is $2.95 and its two-hundred day simple moving average is $1.93. The company has a market cap of $1.44 billion, a PE ratio of -12.84 and a beta of 1.33.

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

Insider Buying and Selling at TMC the metals

In related news, insider Anthony O'sullivan sold 164,317 shares of the firm's stock in a transaction on 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 now directly owns 1,125,667 shares of the company's stock, valued at approximately $5,054,244.83. This trade represents a 12.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Craig Shesky sold 353,702 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $1.66, for a total transaction 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 disclosure for this sale can be found here. 28.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TMC the metals

A number of hedge funds have recently added to or reduced their stakes in the stock. First Manhattan CO. LLC. grew its holdings in TMC the metals by 115.2% in 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 in the last quarter. Old West Investment Management LLC grew its stake in shares of TMC the metals by 100.0% in the first quarter. Old West Investment Management LLC now owns 4,270,076 shares of the company's stock worth $7,345,000 after purchasing an additional 2,135,038 shares in the last quarter. Baird Financial Group Inc. grew its stake in shares of TMC the metals by 35.1% in the first quarter. Baird Financial Group Inc. now owns 2,946,027 shares of the company's stock worth $5,067,000 after purchasing an additional 766,167 shares in the last quarter. Jane Street Group LLC increased its holdings 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 valued at $1,507,000 after purchasing an additional 1,364,424 shares during the period. Finally, Shay Capital LLC raised its stake in shares of TMC the metals by 965.6% during the fourth 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 in the last quarter. 4.39% of the stock is currently owned by institutional investors.

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.