TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) shares traded up 2.9% during trading on Monday . The stock traded as high as $8.10 and last traded at $7.87. 5,397,316 shares changed hands during trading, an increase of 12% from the average session volume of 4,837,887 shares. The stock had previously closed at $7.64.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. Wedbush raised shares of 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. HC Wainwright began coverage on shares of TMC the metals in a research note on Tuesday, May 20th. They issued a "buy" rating and a $5.50 target price on the stock.
View Our Latest Research Report on TMC the metals
TMC the metals Stock Performance
The stock has a market cap of $2.56 billion, a price-to-earnings ratio of -30.69 and a beta of 1.57. The firm's 50-day simple moving average is $5.47 and its two-hundred day simple moving average is $3.20.
TMC the metals (NASDAQ:TMC - Get Free Report) last issued its quarterly 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). Equities research analysts expect that TMC the metals company Inc. will post -0.22 earnings per share for the current fiscal year.
Insider Transactions at TMC the metals
In related news, Director Brendan May sold 44,204 shares of the business's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $7.38, for a total value of $326,225.52. Following the transaction, the director owned 197,586 shares in the company, valued at approximately $1,458,184.68. The trade was a 18.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anthony O'sullivan sold 164,317 shares of TMC the metals stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $4.49, for a total value of $737,783.33. Following the sale, the insider directly owned 1,125,667 shares in the company, valued at $5,054,244.83. The trade was a 12.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 233,521 shares of company stock worth $1,259,009 over the last 90 days. 28.50% of the stock is currently owned by company insiders.
Institutional Trading of TMC the metals
A number of hedge funds and other institutional investors have recently made changes to their positions in TMC. Raymond James Financial Inc. bought a new position in TMC the metals in the 4th quarter valued at approximately $28,000. Prudential Financial Inc. bought a new stake in TMC the metals in the fourth quarter worth $47,000. Old West Investment Management LLC raised its holdings in TMC the metals by 168.0% in the 4th quarter. Old West Investment Management LLC now owns 2,135,038 shares of the company's stock worth $2,391,000 after purchasing an additional 1,338,423 shares in the last quarter. XTX Topco Ltd purchased a new position in TMC the metals during the fourth quarter valued at $65,000. Finally, Jane Street Group LLC grew 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 worth $1,507,000 after purchasing an additional 1,364,424 shares during the period. 4.39% of the stock is currently owned by institutional investors and hedge funds.
About TMC the metals
(
Get Free Report)
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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