TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) shares shot up 5.7% during trading on Friday . The stock traded as high as $4.75 and last traded at $4.55. 6,536,261 shares changed hands during mid-day trading, an increase of 110% from the average session volume of 3,113,543 shares. The stock had previously closed at $4.30.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on TMC shares. Wedbush reissued a "neutral" rating and set a $6.00 price target on shares of TMC the metals in a research report on Friday, May 16th. HC Wainwright started coverage on shares of TMC the metals in a research report on Tuesday, May 20th. They issued a "buy" rating and a $5.50 price target on the stock.
Check Out Our Latest Stock Analysis on TMC
TMC the metals Stock Performance
The company's 50 day moving average price is $2.78 and its 200-day moving average price is $1.85. The company has a market cap of $1.64 billion, a price-to-earnings ratio of -15.23 and a beta of 1.33.
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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.03). As a group, sell-side analysts forecast that TMC the metals company Inc. will post -0.22 earnings per share for the current year.
Insider Activity at TMC the metals
In related news, CFO Craig Shesky sold 353,702 shares of the 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 owns 1,145,717 shares in the company, valued at approximately $1,901,890.22. This represents a 23.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Anthony O'sullivan sold 164,317 shares of TMC the metals 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 now owns 1,125,667 shares of the company's stock, valued at $5,054,244.83. This trade represents a 12.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 30.00% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. First Manhattan CO. LLC. lifted its holdings in shares of TMC the metals by 115.2% during the fourth 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. Old West Investment Management LLC grew its position in TMC the metals by 100.0% during the first quarter. Old West Investment Management LLC now owns 4,270,076 shares of the company's stock worth $7,345,000 after buying an additional 2,135,038 shares in the last quarter. Baird Financial Group Inc. increased its stake in TMC the metals by 35.1% during the first quarter. Baird Financial Group Inc. now owns 2,946,027 shares of the company's stock valued at $5,067,000 after acquiring an additional 766,167 shares during the period. Jane Street Group LLC raised its holdings 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 acquiring an additional 1,364,424 shares in the last quarter. Finally, Shay Capital LLC lifted its position in shares of TMC the metals by 965.6% in the 4th quarter. Shay Capital LLC now owns 932,404 shares of the company's stock worth $1,044,000 after acquiring an additional 844,904 shares during the period. 4.39% of the stock is currently owned by institutional investors and hedge funds.
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.
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