Shares of TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) rose 5.7% on Friday . The company traded as high as $4.75 and last traded at $4.55. Approximately 6,536,261 shares traded hands during mid-day trading, an increase of 110% from the average daily volume of 3,113,543 shares. The stock had previously closed at $4.30.
Analyst Upgrades and Downgrades
TMC has been the topic of several recent research reports. HC Wainwright assumed coverage on TMC the metals in a research report on Tuesday. They issued a "buy" rating and a $5.50 price target on the stock. Wedbush reissued a "neutral" rating and issued a $6.00 target price on shares of TMC the metals in a research note on Friday, May 16th.
View Our Latest Stock Analysis on TMC the metals
TMC the metals Stock Up 7.4%
The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -14.90 and a beta of 1.33. The company's fifty day simple moving average is $2.61 and its two-hundred day simple moving average is $1.77.
TMC the metals (NASDAQ:TMC - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate 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 year.
Insider Buying and Selling
In related 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 value 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. This trade represents a 12.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Craig Shesky sold 353,702 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $1.66, for a total value of $587,145.32. Following the transaction, the chief financial officer now directly owns 1,145,717 shares of the company's stock, 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. 30.00% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. First Manhattan CO. LLC. boosted its stake in shares of TMC the metals by 115.2% during the 4th quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company's stock worth $20,974,000 after buying an additional 10,025,000 shares during the last quarter. Raymond James Financial Inc. acquired a new position in TMC the metals during the fourth quarter valued at approximately $28,000. Prudential Financial Inc. bought a new position in TMC the metals in the fourth quarter valued at approximately $47,000. Old West Investment Management LLC grew its stake in TMC the metals by 168.0% in the fourth quarter. Old West Investment Management LLC now owns 2,135,038 shares of the company's stock valued at $2,391,000 after purchasing an additional 1,338,423 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of TMC the metals during the 4th quarter worth approximately $28,000. Institutional investors own 4.39% of the company's stock.
TMC the metals Company Profile
(
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider TMC the metals, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TMC the metals wasn't on the list.
While TMC the metals currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
