TMC the metals (NASDAQ:TMC) Stock Price Down 8.1% - What's Next?

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.

Shares of TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) dropped 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

TMC has been the subject of a number of research reports. HC Wainwright lifted their target price on TMC the metals from $5.50 to $7.25 and gave the company a "buy" rating in a research note on Wednesday. Wedbush upgraded TMC the metals from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $6.00 to $11.00 in a research note on Wednesday, June 25th.

TMC the metals Stock Up 1.8%

The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -24.43 and a beta of 1.59. The business has a 50-day simple moving average of $6.19 and a two-hundred day simple moving average of $3.72.

TMC the metals (NASDAQ:TMC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.03). On average, analysts forecast that TMC the metals company Inc. will post -0.22 EPS for the current year.

Insider Buying and Selling at TMC the metals

In other TMC the metals news, insider Anthony O'sullivan sold 164,317 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $4.49, for a total transaction of $737,783.33. Following the transaction, the insider directly owned 1,125,667 shares in the company, valued at $5,054,244.83. This trade represents a 12.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brendan May sold 44,204 shares of the firm's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $7.38, for a total value of $326,225.52. Following the completion of the sale, the director directly owned 197,586 shares in the company, 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 quarter, insiders have sold 233,521 shares of company stock valued at $1,259,009. 27.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Manhattan CO. LLC. raised its stake in shares of TMC the metals by 115.2% in the fourth quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company's stock valued at $20,974,000 after acquiring an additional 10,025,000 shares during the last quarter. Old West Investment Management LLC boosted its position in TMC the metals by 100.0% in the 1st quarter. Old West Investment Management LLC now owns 4,270,076 shares of the company's stock valued at $7,345,000 after buying an additional 2,135,038 shares during the last quarter. Jane Street Group LLC boosted its position in TMC the metals by 7,330.9% in 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 during the last quarter. Shay Capital LLC boosted its position in TMC the metals by 965.6% in 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 during the last quarter. Finally, Baird Financial Group Inc. boosted its position in TMC the metals by 35.1% in the 1st quarter. Baird Financial Group Inc. now owns 2,946,027 shares of the company's stock valued at $5,067,000 after buying an additional 766,167 shares during the last quarter. Institutional investors own 4.39% of the company's stock.

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.