TMC the metals (NASDAQ:TMC) Trading 14.6% Higher - Here's What Happened

Key Points

• TMC jumped 14.6% intraday to $6.0050 (high $6.02) on Wednesday from a prior close of $5.24, with about 7.22 million shares traded—roughly in line with average volume.
• Analyst views are mixed but improving: Wedbush raised its price target to $10 (outperform) and HC Wainwright to $11.75 (buy), while Weiss Ratings reiterated a sell; the consensus rating is "Hold" with a consensus target of $10.88.
• TMC is a deep‑sea polymetallic nodule explorer targeting nickel, cobalt, copper and manganese for EV and energy markets, with a market cap of $2.67 billion, negative P/E, and about 4.39% institutional ownership.

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report)'s stock price traded up 14.6% during mid-day trading on Wednesday . The stock traded as high as $6.02 and last traded at $6.0050. 7,217,676 shares were traded during mid-day trading, an increase of 1% from the average session volume of 7,118,860 shares. The stock had previously closed at $5.24.

Analyst Upgrades and Downgrades

TMC has been the subject of several research analyst reports. Wedbush boosted their price target on shares of TMC the metals from $8.00 to $10.00 and gave the company an "outperform" rating in a report on Monday. HC Wainwright lifted their price target on shares of TMC the metals from $7.50 to $11.75 and gave the company a "buy" rating in a research note on Friday, January 23rd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of TMC the metals in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, TMC the metals has an average rating of "Hold" and a consensus target price of $10.88.

TMC the metals Trading Up 17.6%

The firm has a market cap of $2.67 billion, a price-to-earnings ratio of -7.70 and a beta of 1.97. The stock's 50 day moving average is $5.35 and its 200 day moving average is $6.29.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC acquired a new position in shares of TMC the metals during the 2nd quarter worth approximately $28,000. Osterweis Capital Management Inc. acquired a new position in shares of TMC the metals during the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of TMC the metals during the 4th quarter worth approximately $29,000. Sunbelt Securities Inc. acquired a new position in shares of TMC the metals during the 3rd quarter worth approximately $34,000. Finally, Farther Finance Advisors LLC grew its position in shares of TMC the metals by 465.8% during the 4th quarter. Farther Finance Advisors LLC now owns 5,686 shares of the company's stock worth $35,000 after purchasing an additional 4,681 shares in the last quarter. Institutional investors and hedge funds own 4.39% of the company's stock.

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. Its products are used in electric vehicles (EV), renewable energy storage markets, EV wiring, energy transmission, manganese alloy production required for steel production, and other applications.

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