TMC the metals (NASDAQ:TMC) Trading Down 5.6% - Should You Sell?

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) shares were down 5.6% during mid-day trading on Tuesday . The company traded as low as $4.13 and last traded at $4.13. Approximately 1,506,612 shares changed hands during trading, a decline of 56% from the average daily volume of 3,420,902 shares. The stock had previously closed at $4.37.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TMC shares. Wedbush restated a "neutral" rating and set a $6.00 price objective on shares of TMC the metals in a research report on Friday, May 16th. HC Wainwright assumed coverage on TMC the metals in a research note on Tuesday, May 20th. They set a "buy" rating and a $5.50 target price for the company.

TMC the metals Stock Down 9.6%

The company has a 50-day simple moving average of $3.45 and a two-hundred day simple moving average of $2.15. The firm has a market cap of $1.57 billion, a PE ratio of -14.00 and a beta of 1.46.

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

Insiders Place Their Bets

In related 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 value of $737,783.33. Following the completion of the sale, the insider now owns 1,125,667 shares of the company's stock, valued at $5,054,244.83. The trade was a 12.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Craig Shesky sold 353,702 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $1.66, for a total value of $587,145.32. Following the sale, the chief financial officer now directly owns 1,145,717 shares of the company's stock, valued at $1,901,890.22. This represents a 23.59% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 28.50% of the company's stock.

Institutional Investors Weigh In On TMC the metals

A number of hedge funds have recently made changes to their positions in TMC. Tidal Investments LLC grew its stake in shares of 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 buying an additional 57,606 shares during the last quarter. Parallel Advisors LLC bought a new position in shares of TMC the metals during the first quarter valued at approximately $61,000. First Manhattan CO. LLC. grew its stake in shares of 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 buying an additional 10,025,000 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of TMC the metals during the fourth quarter valued at approximately $28,000. Finally, Prudential Financial Inc. bought a new position in TMC the metals in the fourth quarter worth approximately $47,000. 4.39% of the stock is currently 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.