TMC the metals (NASDAQ:TMC) Trading Down 8.1% - Should You Sell?

Key Points

• TMC the metals company Inc. shares fell **8.1%** to **$5.20** after closing at **$5.65**, with approximately **8 million** shares traded.
• Analysts have varied ratings on TMC, with HC Wainwright setting a **"buy"** rating and a **$5.50** price target, while Wedbush upgraded to **"outperform"** and set a new target of **$11.00**.
• Insider trading included significant sales, with insider **Anthony O'Sullivan** selling **164,317 shares** at an average price of **$4.49**, reflecting a **12.74%** decrease in his holdings.

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) shares were down 8.1% during trading on Tuesday . The company traded as low as $5.24 and last traded at $5.20. Approximately 8,091,069 shares traded hands during mid-day trading, a decline of 3% from the average daily volume of 8,381,605 shares. The stock had previously closed at $5.65.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TMC. HC Wainwright started coverage on TMC the metals in a research report on Tuesday, May 20th. They set a "buy" rating and a $5.50 price objective on the stock. Wedbush raised TMC the metals from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $6.00 to $11.00 in a research report on Wednesday, June 25th.

TMC the metals Stock Performance

The stock has a market cap of $1.88 billion, a price-to-earnings ratio of -22.56 and a beta of 1.59. The firm's 50-day simple moving average is $6.13 and its two-hundred day simple moving average is $3.63.

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 for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.03). Equities research analysts expect that TMC the metals company Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Activity at TMC the metals

In other news, insider Anthony O'sullivan sold 164,317 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $4.49, for a total transaction of $737,783.33. Following the completion of the sale, the insider owned 1,125,667 shares of the company's stock, valued at $5,054,244.83. This trade represents a 12.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Brendan May sold 44,204 shares of TMC the metals stock in a transaction 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 directly owned 197,586 shares in the company, valued at $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. Insiders sold 233,521 shares of company stock valued at $1,259,009 in the last ninety days. 27.60% of the stock is currently owned by insiders.

Institutional Trading of TMC the metals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wolverine Asset Management LLC increased its holdings in shares of TMC the metals by 752.6% during the second quarter. Wolverine Asset Management LLC now owns 4,945 shares of the company's stock valued at $33,000 after acquiring an additional 4,365 shares in the last quarter. Corundum Group Inc. purchased a new stake in shares of TMC the metals during the second quarter valued at $69,000. American Institute for Advanced Investment Management LLP purchased a new stake in shares of TMC the metals during the second quarter valued at $86,000. Arkadios Wealth Advisors purchased a new stake in shares of TMC the metals during the second quarter valued at $89,000. Finally, Allworth Financial LP boosted its position in TMC the metals by 48.0% in 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 during the last quarter. Hedge funds and other 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.

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