TMC the metals (NASDAQ:TMC) Trading Up 8.1% - What's Next?

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) shares traded up 8.1% on Thursday . The company traded as high as $7.35 and last traded at $6.90. 11,523,305 shares traded hands during trading, an increase of 164% from the average session volume of 4,367,021 shares. The stock had previously closed at $6.38.

Wall Street Analysts Forecast Growth

TMC has been the subject of a number of research reports. HC Wainwright began coverage on shares of TMC the metals in a research note on Tuesday, May 20th. They issued a "buy" rating and a $5.50 price target for the company. Wedbush raised 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.

TMC the metals Stock Performance

The stock's 50-day moving average price is $4.60 and its two-hundred day moving average price is $2.70. The stock has a market capitalization of $2.59 billion, a PE ratio of -31.04 and a beta of 1.57.

TMC the metals (NASDAQ:TMC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.03). On average, analysts predict that TMC the metals company Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Activity at TMC the metals

In other TMC the metals news, insider Anthony O'sullivan sold 164,317 shares of TMC the metals stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $4.49, for a total transaction of $737,783.33. Following the completion of the transaction, the insider owned 1,125,667 shares in the company, valued at approximately $5,054,244.83. The trade was a 12.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brendan May sold 44,204 shares of the firm's 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 233,521 shares of company stock worth $1,259,009 in the last 90 days. 28.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Allworth Financial LP grew its holdings in shares of TMC the metals by 48.0% during the first quarter. Allworth Financial LP now owns 14,796 shares of the company's stock valued at $25,000 after buying an additional 4,796 shares during the last quarter. Sprott Inc. purchased a new position in TMC the metals in the 1st quarter worth approximately $26,000. Gray Wealth Management Inc. lifted its position in TMC the metals by 59.7% in the 4th quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company's stock valued at $27,000 after acquiring an additional 8,863 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in TMC the metals during the 4th quarter valued at $28,000. Finally, Raymond James Financial Inc. bought a new stake in shares of TMC the metals in the 4th quarter worth $28,000. 4.39% of the stock is owned by hedge funds and other institutional investors.

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.