TMC the metals company Inc. (NASDAQ:TMC - Get Free Report)'s stock price traded up 3% during mid-day trading on Friday . The company traded as high as $7.40 and last traded at $6.95. 11,395,338 shares traded hands during mid-day trading, an increase of 193% from the average session volume of 3,887,053 shares. The stock had previously closed at $6.75.
Analyst Ratings Changes
Several brokerages have issued reports on TMC. Wedbush restated a "neutral" rating and issued a $6.00 target price on shares of TMC the metals in a research note on Friday, May 16th. HC Wainwright began coverage on TMC the metals in a report on Tuesday, May 20th. They issued a "buy" rating and a $5.50 price objective for the company.
Get Our Latest Stock Analysis on TMC the metals
TMC the metals Stock Performance
The firm has a market capitalization of $2.38 billion, a PE ratio of -28.52 and a beta of 1.45. The business's 50 day moving average is $3.89 and its two-hundred day moving average is $2.35.
TMC the metals (NASDAQ:TMC - Get Free Report) last issued 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 predict that TMC the metals company Inc. will post -0.22 EPS for the current year.
Insider Activity
In related news, insider Anthony O'sullivan sold 164,317 shares of the stock in a transaction 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 sale, the insider now owns 1,125,667 shares in the company, valued at approximately $5,054,244.83. This trade represents a 12.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 of the company's stock, valued at approximately $1,901,890.22. The trade was 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.
Institutional Investors Weigh In On TMC the metals
Hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. bought a new position in shares of TMC the metals in the 4th quarter worth $28,000. SBI Securities Co. Ltd. bought a new position in TMC the metals in the fourth quarter valued at $94,000. Raymond James Financial Inc. purchased a new stake in TMC the metals during the fourth quarter valued at about $28,000. Independent Advisor Alliance bought a new stake in TMC the metals during the fourth quarter worth about $42,000. Finally, Gray Wealth Management Inc. boosted its holdings in shares of TMC the metals by 59.7% in the 4th 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 in the last quarter. 4.39% of the stock is currently owned by 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.
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