TMC the metals company Inc. (NASDAQ:TMC - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $4.80, but opened at $4.55. TMC the metals shares last traded at $4.41, with a volume of 2,013,480 shares.
Wall Street Analysts Forecast Growth
Several brokerages have commented on TMC. Wedbush reiterated a "neutral" rating and issued a $6.00 price target on shares of TMC the metals in a research report on Friday, May 16th. HC Wainwright assumed coverage on shares of TMC the metals in a research note on Tuesday, May 20th. They set a "buy" rating and a $5.50 target price for the company.
View Our Latest Stock Analysis on TMC
TMC the metals Price Performance
The firm has a market capitalization of $1.57 billion, a PE ratio of -14.00 and a beta of 1.46. The firm has a fifty day moving average price of $3.45 and a 200 day moving average price of $2.15.
TMC the metals (NASDAQ:TMC - Get Free Report) last issued its quarterly 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). On average, sell-side analysts expect that TMC the metals company Inc. will post -0.22 EPS for the current year.
Insider Activity
In other TMC the metals news, CFO Craig Shesky sold 353,702 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $1.66, for a total value of $587,145.32. Following the transaction, the chief financial officer now 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 sale, the insider now owns 1,125,667 shares of the company's stock, valued at approximately $5,054,244.83. This represents a 12.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 28.50% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Allworth Financial LP boosted its holdings in TMC the metals by 48.0% in the first quarter. Allworth Financial LP now owns 14,796 shares of the company's stock worth $25,000 after purchasing an additional 4,796 shares in the last quarter. Sprott Inc. bought a new stake in shares of TMC the metals during the 1st quarter worth about $26,000. Gray Wealth Management Inc. increased its holdings 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 acquiring an additional 8,863 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of TMC the metals in the 4th quarter valued at approximately $28,000. Finally, Raymond James Financial Inc. acquired a new stake in TMC the metals in the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 4.39% of the company's stock.
About TMC the metals
(
Get Free Report)
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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