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

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

Analyst Ratings Changes

Several analysts have recently weighed in on the company. 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. Wedbush restated a "neutral" rating and set a $6.00 target price on shares of TMC the metals in a research note on Friday, May 16th.

TMC the metals Stock Up 2.7%

The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of -13.98 and a beta of 1.46. The stock has a 50 day moving average of $3.28 and a 200 day moving average of $2.08.

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

Insider Buying and Selling at TMC the metals

In other news, insider Anthony O'sullivan sold 164,317 shares of TMC the metals stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $4.49, for a total transaction of $737,783.33. Following the sale, the insider now owns 1,125,667 shares of the company's stock, valued at approximately $5,054,244.83. The trade was a 12.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Craig Shesky sold 353,702 shares of TMC the metals stock in a transaction that occurred on 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 in the company, valued at approximately $1,901,890.22. This trade represents a 23.59% decrease in their position. The disclosure for this sale can be found here. 28.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TMC the metals

Hedge funds have recently made changes to their positions in the business. Allworth Financial LP raised its holdings in TMC the metals by 48.0% during the first quarter. Allworth Financial LP now owns 14,796 shares of the company's stock worth $25,000 after purchasing an additional 4,796 shares in the last quarter. Sprott Inc. bought a new stake in TMC the metals during the first quarter worth approximately $26,000. Gray Wealth Management Inc. raised its holdings in TMC the metals by 59.7% during the fourth quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company's stock worth $27,000 after purchasing an additional 8,863 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in TMC the metals during the fourth quarter worth approximately $28,000. Finally, Raymond James Financial Inc. bought a new stake in TMC the metals during the fourth quarter worth approximately $28,000. Institutional investors 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.