Stock Traders Purchase Large Volume of TMC the metals Call Options (NASDAQ:TMC)

Key Points

• TMC the metals company experienced a significant increase in options trading, with 39,357 call options purchased, a rise of approximately 87% from the typical daily volume.
• The company's stock traded down to $5.57 during the day, despite a high trading volume of over 23 million shares, significantly more than its usual volume.
• Insider trading activity included a sale of 164,317 shares by insider Anthony O'Sullivan, indicating a 12.74% decrease in his ownership position.

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) saw some unusual options trading on Monday. Investors purchased 39,357 call options on the company. Thisisanincreaseof87% compared to the typical volume of 21,041 call options.

Analyst Ratings Changes

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

TMC the metals Price Performance

Shares of NASDAQ:TMC traded up $0.08 on Friday, reaching $5.60. 2,075,539 shares of the company traded hands, compared to its average volume of 8,377,766. The company's 50 day moving average is $6.17 and its 200-day moving average is $3.68. The stock has a market capitalization of $2.03 billion, a PE ratio of -24.41 and a beta of 1.59. TMC the metals has a fifty-two week low of $0.72 and a fifty-two week high of $8.63.

TMC the metals (NASDAQ:TMC - Get Free Report) last released 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, analysts expect that TMC the metals will post -0.22 EPS for the current year.

Insider Buying and Selling

In related news, Director Brendan May sold 44,204 shares of the company's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $7.38, for a total transaction of $326,225.52. Following the completion of the sale, the director owned 197,586 shares of the company's stock, valued at approximately $1,458,184.68. This represents a 18.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony O'sullivan sold 164,317 shares of the stock in a transaction dated 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 approximately $5,054,244.83. The trade was a 12.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 233,521 shares of company stock valued at $1,259,009 over the last three months. 27.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TMC the metals

A number of large investors have recently bought and sold shares of TMC. Allworth Financial LP grew its stake in shares of TMC the metals by 48.0% during the first quarter. Allworth Financial LP now owns 14,796 shares of the company's stock valued at $25,000 after purchasing an additional 4,796 shares during the last quarter. Sprott Inc. acquired a new stake in TMC the metals in the 1st quarter worth about $26,000. Raymond James Financial Inc. bought a new position in TMC the metals during the 4th quarter worth $28,000. Wolverine Asset Management LLC raised its position in 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 purchasing an additional 4,365 shares in the last quarter. Finally, KBC Group NV acquired a new stake in TMC the metals during the 2nd quarter worth about $37,000. 4.39% of the stock is currently owned by institutional investors.

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.