TMC the metals (NASDAQ:TMC) Trading 2.4% Higher - Should You Buy?

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) was up 2.4% during mid-day trading on Thursday . The stock traded as high as $7.79 and last traded at $7.87. Approximately 2,633,528 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 4,731,212 shares. The stock had previously closed at $7.68.

Analysts Set New Price Targets

TMC has been the topic of a number of analyst reports. Wedbush raised TMC the metals from a "neutral" rating to an "outperform" rating and upped their target price for the company from $6.00 to $11.00 in a research note on Wednesday, June 25th. HC Wainwright started coverage on TMC the metals in a research report on Tuesday, May 20th. They issued a "buy" rating and a $5.50 price objective on the stock.

TMC the metals Stock Performance

The company has a market capitalization of $2.86 billion, a PE ratio of -34.35 and a beta of 1.57. The firm has a fifty day simple moving average of $5.29 and a 200 day simple moving average of $3.08.

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

Insiders Place Their Bets

In other TMC the metals news, insider Anthony O'sullivan sold 164,317 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $4.49, for a total value of $737,783.33. Following the completion of the transaction, the insider directly 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director Brendan May sold 44,204 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $7.38, for a total transaction of $326,225.52. Following the transaction, the director owned 197,586 shares of the company's stock, valued at approximately $1,458,184.68. This trade represents a 18.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 233,521 shares of company stock valued at $1,259,009 over the last 90 days. 28.50% of the stock is currently owned by company insiders.

Institutional Trading of TMC the metals

A number of institutional investors have recently made changes to their positions in the business. James J. Burns & Company LLC purchased a new stake in TMC the metals in the second quarter valued at about $211,000. Abacus Wealth Partners LLC grew its position in TMC the metals by 187.5% during the 2nd quarter. Abacus Wealth Partners LLC now owns 92,000 shares of the company's stock worth $607,000 after purchasing an additional 60,000 shares during the last quarter. Sowell Financial Services LLC increased its stake in TMC the metals by 37.4% during the 2nd quarter. Sowell Financial Services LLC now owns 16,604 shares of the company's stock valued at $110,000 after purchasing an additional 4,517 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of TMC the metals by 10.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 47,163 shares of the company's stock worth $335,000 after buying an additional 4,482 shares during the last quarter. Finally, Mirador Capital Partners LP acquired a new stake in shares of TMC the metals during the second quarter worth $731,000. 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.

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