TMC the metals (NASDAQ:TMC) Shares Gap Up - Time to Buy?

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $3.05, but opened at $3.28. TMC the metals shares last traded at $3.56, with a volume of 4,885,860 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Alliance Global Partners assumed coverage on TMC the metals in a research report on Wednesday, January 15th. They set a "buy" rating and a $3.75 price target on the stock. Wedbush reiterated a "neutral" rating and issued a $4.00 price objective on shares of TMC the metals in a report on Friday, March 28th.

TMC the metals Trading Down 3.9 %

The company has a market cap of $1.04 billion, a PE ratio of -9.61 and a beta of 1.46. The business has a fifty day simple moving average of $2.13 and a two-hundred day simple moving average of $1.53.

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

Insider Activity at TMC the metals

In other news, CFO Craig Shesky sold 353,702 shares of TMC the metals stock in a transaction that occurred 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 sale, the chief financial officer now owns 1,145,717 shares of the company's stock, valued at approximately $1,901,890.22. The trade was a 23.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 30.00% of the company's stock.

Institutional Investors Weigh In On TMC the metals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Manhattan CO. LLC. increased 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 purchasing an additional 10,025,000 shares during the last quarter. Old West Investment Management LLC raised its stake 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 valued at $2,391,000 after acquiring an additional 1,338,423 shares during the period. Jane Street Group LLC lifted its holdings in shares of TMC the metals by 7,330.9% in the 4th quarter. Jane Street Group LLC now owns 1,345,812 shares of the company's stock worth $1,507,000 after acquiring an additional 1,364,424 shares during the last quarter. Shay Capital LLC increased its holdings 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 last quarter. Finally, Tidal Investments LLC boosted its position in shares of TMC the metals by 11.9% during the fourth quarter. Tidal Investments LLC now owns 542,938 shares of the company's stock worth $608,000 after buying an additional 57,606 shares during the period. Hedge funds and other 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.