TMC the metals (NASDAQ:TMC) Stock Price 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.

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

Analyst Upgrades and Downgrades

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

TMC the metals Stock Down 0.7%

The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -14.30 and a beta of 1.59. The stock's 50 day moving average price is $6.31 and its two-hundred day moving average price is $4.02.

TMC the metals (NASDAQ:TMC - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.01). On average, analysts predict that TMC the metals company Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, 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 transaction of $326,225.52. Following the sale, the director owned 197,586 shares in the company, valued at approximately $1,458,184.68. This trade represents a 18.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 27.60% of the company's stock.

Institutional Trading of TMC the metals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its holdings in TMC the metals by 11.9% during the fourth quarter. Tidal Investments LLC now owns 542,938 shares of the company's stock valued at $608,000 after purchasing an additional 57,606 shares in the last quarter. Old West Investment Management LLC lifted its holdings in TMC the metals by 100.0% during the first quarter. Old West Investment Management LLC now owns 4,270,076 shares of the company's stock valued at $7,345,000 after purchasing an additional 2,135,038 shares in the last quarter. Parallel Advisors LLC purchased a new position in TMC the metals during the first quarter valued at $61,000. Wealth Enhancement Advisory Services LLC purchased a new position in TMC the metals during the first quarter valued at $73,000. Finally, First Manhattan CO. LLC. lifted its holdings in TMC the metals by 115.2% during the fourth quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company's stock valued at $20,974,000 after purchasing an additional 10,025,000 shares in the last quarter. Institutional investors and hedge funds own 4.39% of the company's stock.

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.