TMC the metals company Inc. (NASDAQ:TMC - Get Free Report)'s share price rose 2.7% during trading on Tuesday . The company traded as high as $6.75 and last traded at $6.74. Approximately 3,144,337 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 3,966,100 shares. The stock had previously closed at $6.56.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on TMC shares. HC Wainwright began coverage on TMC the metals in a report on Tuesday, May 20th. They set a "buy" rating and a $5.50 target price on the stock. Wedbush reiterated a "neutral" rating and set a $6.00 target price on shares of TMC the metals in a report on Friday, May 16th.
View Our Latest Stock Analysis on TMC
TMC the metals Stock Performance
The firm has a market capitalization of $2.47 billion, a PE ratio of -29.61 and a beta of 1.45. The firm has a fifty day moving average of $3.96 and a 200 day moving average of $2.39.
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 the consensus estimate of ($0.03) by ($0.03). Research analysts forecast that TMC the metals company Inc. will post -0.22 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, insider Anthony O'sullivan sold 164,317 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $4.49, for a total value of $737,783.33. Following the completion of the sale, the insider now directly owns 1,125,667 shares in the company, valued at approximately $5,054,244.83. The trade was a 12.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Craig Shesky sold 353,702 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $1.66, for a total value of $587,145.32. Following the sale, the chief financial officer now directly owns 1,145,717 shares in the company, valued at approximately $1,901,890.22. This represents a 23.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 28.50% of the stock is owned by company insiders.
Hedge Funds Weigh In On TMC the metals
A number of hedge funds have recently added to or reduced their stakes in TMC. 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 during the period. Sprott Inc. acquired a new position in TMC the metals in the first quarter worth $26,000. Gray Wealth Management Inc. boosted its holdings in TMC the metals by 59.7% in the fourth quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company's stock worth $27,000 after purchasing an additional 8,863 shares during the period. Oppenheimer & Co. Inc. acquired a new position in TMC the metals during the 4th quarter valued at approximately $28,000. Finally, Raymond James Financial Inc. acquired a new position in TMC the metals during the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds own 4.39% of the company's stock.
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.
Further Reading
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