TMC the metals (NASDAQ:TMC) Trading 11.9% Higher - Still a Buy?

Shares of TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) rose 11.9% during trading on Friday . The stock traded as high as $7.35 and last traded at $7.14. Approximately 19,253,357 shares were traded during trading, an increase of 337% from the average daily volume of 4,404,476 shares. The stock had previously closed at $6.38.

Analyst Ratings Changes

TMC has been the subject of several research analyst reports. HC Wainwright initiated coverage on shares of TMC the metals in a report on Tuesday, May 20th. They set a "buy" rating and a $5.50 target price for the company. Wedbush raised shares of TMC the metals from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $6.00 to $11.00 in a report on Wednesday, June 25th.

TMC the metals Stock Performance

The stock has a market cap of $2.41 billion, a P/E ratio of -28.91 and a beta of 1.57. The stock's fifty day simple moving average is $4.74 and its 200-day simple moving average is $2.81.

TMC the metals (NASDAQ:TMC - Get Free Report) last posted its quarterly earnings data 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). As a group, equities research analysts forecast that TMC the metals company Inc. will post -0.22 earnings per share for the current year.

Insider Transactions at TMC the metals

In other TMC the metals news, Director Brendan May sold 44,204 shares of the business'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 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 document filed with the SEC, which is available at the SEC website. Also, insider Anthony O'sullivan sold 164,317 shares of the business'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 directly owned 1,125,667 shares of the company's stock, valued at $5,054,244.83. This represents 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 three months. Insiders own 28.50% of the company's stock.

Institutional Trading of TMC the metals

A number of institutional investors and hedge funds have recently made changes to their positions in TMC. Oppenheimer & Co. Inc. bought a new stake in shares of TMC the metals during the 4th quarter worth approximately $28,000. SBI Securities Co. Ltd. bought a new stake in shares of TMC the metals during the 4th quarter worth approximately $94,000. Raymond James Financial Inc. bought a new stake in shares of TMC the metals during the 4th quarter worth approximately $28,000. Independent Advisor Alliance bought a new stake in shares of TMC the metals during the 4th quarter worth approximately $42,000. Finally, Gray Wealth Management Inc. lifted 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 worth $27,000 after acquiring an additional 8,863 shares during the period. Institutional investors own 4.39% of the company's stock.

TMC the metals Company Profile

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.