TMC the metals (NASDAQ:TMC) Shares Up 7.8% - Should You Buy?

Key Points

• TMC the metals company's share price increased by 7.8%, reaching $5.24 amid lower trading volume.
• Recent analyst ratings include a "buy" from HC Wainwright and an upgraded price target of $11.00 from Wedbush, with an average price target of $7.33.
• Insider transactions include Director Brendan May selling 44,204 shares at an average price of $7.38, indicating a decrease in his ownership stake.

Shares of TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) traded up 7.8% during mid-day trading on Monday . The company traded as high as $5.27 and last traded at $5.24. 3,288,137 shares changed hands during trading, a decline of 61% from the average session volume of 8,374,198 shares. The stock had previously closed at $4.86.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wedbush upgraded TMC the metals from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $6.00 to $11.00 in a research note on Wednesday, June 25th. Zacks Research raised shares of TMC the metals from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 19th. Finally, HC Wainwright reissued a "buy" rating and issued a $7.25 target price on shares of TMC the metals in a research note on Monday, August 18th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, TMC the metals currently has an average rating of "Moderate Buy" and a consensus price target of $7.33.

TMC the metals Stock Up 1.9%

The company's fifty day moving average price is $6.25 and its 200-day moving average price is $4.06. The stock has a market capitalization of $2.18 billion, a PE ratio of -14.49 and a beta of 1.59.

TMC the metals (NASDAQ:TMC - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01). Equities research analysts anticipate that TMC the metals company Inc. will post -0.22 earnings per share for the current year.

Insider Buying and Selling

In other TMC the metals news, insider Anthony O'sullivan sold 250,000 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $5.25, for a total transaction of $1,312,500.00. Following the completion of the sale, the insider directly owned 1,125,667 shares in the company, valued at approximately $5,909,751.75. The trade was a 18.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brendan May sold 44,204 shares of the business's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $7.38, for a total transaction of $326,225.52. Following the sale, the director owned 197,586 shares of the company's stock, valued at approximately $1,458,184.68. This represents a 18.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 554,314 shares of company stock valued at $3,356,155. 27.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On TMC the metals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in TMC the metals in the 4th quarter worth $28,000. Jane Street Group LLC raised its position in shares of TMC the metals by 7,330.9% during the 4th quarter. Jane Street Group LLC now owns 1,345,812 shares of the company's stock valued at $1,507,000 after buying an additional 1,364,424 shares in the last quarter. First Manhattan CO. LLC. raised its position in shares of TMC the metals by 115.2% during the 4th quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company's stock valued at $20,974,000 after buying an additional 10,025,000 shares in the last quarter. Shay Capital LLC raised its position in shares of TMC the metals by 965.6% during the 4th quarter. Shay Capital LLC now owns 932,404 shares of the company's stock valued at $1,044,000 after buying an additional 844,904 shares in the last quarter. Finally, Tidal Investments LLC raised its position in TMC the metals by 11.9% in the 4th quarter. Tidal Investments LLC now owns 542,938 shares of the company's stock worth $608,000 after purchasing an additional 57,606 shares during the period. 4.39% of the stock is currently owned by hedge funds and other institutional investors.

TMC the metals Company Profile

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.