TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) was down 8.8% on Tuesday . The company traded as low as $6.87 and last traded at $6.80. Approximately 4,679,138 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 8,013,920 shares. The stock had previously closed at $7.45.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on TMC. Wedbush upgraded TMC the metals from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $6.00 to $11.00 in a research report on Wednesday, June 25th. HC Wainwright began 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.
Get Our Latest Research Report on TMC the metals
TMC the metals Stock Performance
The company has a market capitalization of $2.40 billion, a P/E ratio of -29.24 and a beta of 1.57. The company's fifty day simple moving average is $5.97 and its 200-day simple moving average is $3.47.
TMC the metals (NASDAQ:TMC - Get Free Report) last released 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). On average, sell-side analysts predict that TMC the metals company Inc. will post -0.22 EPS for the current year.
Insider Buying and Selling at TMC the metals
In other TMC the metals news, insider Anthony O'sullivan sold 164,317 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $4.49, for a total value of $737,783.33. Following the completion of the sale, the insider directly owned 1,125,667 shares in the company, valued at $5,054,244.83. This trade represents a 12.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brendan May sold 44,204 shares of the stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $7.38, for a total value of $326,225.52. Following the sale, the director owned 197,586 shares of the company's stock, valued at approximately $1,458,184.68. This represents a 18.28% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 233,521 shares of company stock valued at $1,259,009. Corporate insiders own 27.60% of the company's stock.
Institutional Investors Weigh In On TMC the metals
A number of large investors have recently made changes to their positions in the stock. Corundum Group Inc. purchased a new stake in TMC the metals in the 2nd quarter worth approximately $69,000. Allworth Financial LP boosted its holdings in TMC the metals by 48.0% during the first quarter. Allworth Financial LP now owns 14,796 shares of the company's stock worth $25,000 after buying an additional 4,796 shares in the last quarter. Sprott Inc. acquired a new stake in TMC the metals during the first quarter valued at $26,000. Sowell Financial Services LLC increased its holdings in TMC the metals by 37.4% in the second quarter. Sowell Financial Services LLC now owns 16,604 shares of the company's stock valued at $110,000 after buying an additional 4,517 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of TMC the metals in the fourth quarter worth about $28,000. 4.39% of the stock is owned by hedge funds and other institutional investors.
TMC the metals Company Profile
(
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider TMC the metals, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TMC the metals wasn't on the list.
While TMC the metals currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
