TMC the metals (NASDAQ:TMC) Stock Price Up 7.6% - Should You Buy?

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) traded up 7.6% during mid-day trading on Thursday . The stock traded as high as $3.10 and last traded at $3.00. 3,411,896 shares were traded during mid-day trading, an increase of 67% from the average session volume of 2,041,252 shares. The stock had previously closed at $2.79.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TMC shares. Wedbush restated a "neutral" rating and set a $4.00 price target on shares of TMC the metals in a research report on Friday, March 28th. Alliance Global Partners initiated coverage on TMC the metals in a report on Wednesday, January 15th. They set a "buy" rating and a $3.75 target price for the company.

TMC the metals Stock Performance

The company has a market cap of $821.07 million, a price-to-earnings ratio of -7.61 and a beta of 1.46. The firm's 50 day simple moving average is $1.95 and its 200-day simple moving average is $1.41.

TMC the metals (NASDAQ:TMC - Get Free Report) last announced its quarterly earnings data on Thursday, March 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. The business had revenue of ($20.18) million for the quarter. As a group, sell-side analysts expect that TMC the metals company Inc. will post -0.22 EPS for the current fiscal year.

Insider Activity

In other news, CFO Craig Shesky sold 353,702 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $1.66, for a total transaction 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 30.00% of the company's stock.

Institutional Investors Weigh In On TMC the metals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Gray Wealth Management Inc. increased 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 buying an additional 8,863 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in TMC the metals during the fourth quarter worth $28,000. Oppenheimer & Co. Inc. acquired a new position in shares of TMC the metals in the 4th quarter valued at $28,000. Independent Advisor Alliance purchased a new stake in TMC the metals in the 4th quarter valued at about $42,000. Finally, Virtu Financial LLC acquired a new stake in shares of TMC the metals during the third quarter valued at about $44,000. 4.39% of the stock is currently owned by institutional investors and hedge funds.

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.