TMC the metals Target of Unusually Large Options Trading (NASDAQ:TMC)

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) was the recipient of unusually large options trading on Wednesday. Investors bought 28,640 call options on the company. This represents an increase of 118% compared to the typical volume of 13,139 call options.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TMC shares. HC Wainwright started coverage on TMC the metals in a research report on Tuesday, May 20th. They set a "buy" rating and a $5.50 price target for the company. 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.

TMC the metals Trading Up 25.3%

NASDAQ TMC traded up $1.38 during trading on Wednesday, hitting $6.82. 35,687,744 shares of the company's stock were exchanged, compared to its average volume of 3,800,901. The stock's 50 day moving average price is $3.60 and its two-hundred day moving average price is $2.22. TMC the metals has a fifty-two week low of $0.72 and a fifty-two week high of $7.29. The company has a market cap of $2.47 billion, a PE ratio of -29.54 and a beta of 1.46.

TMC the metals (NASDAQ:TMC - Get Free Report) last announced 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). Analysts forecast that TMC the metals will post -0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Craig Shesky sold 353,702 shares of TMC the metals stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $1.66, for a total transaction 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 $1,901,890.22. This trade represents a 23.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Anthony O'sullivan sold 164,317 shares of the business's stock in a transaction 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 transaction, the insider now directly 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 position. The disclosure for this sale can be found here. Corporate insiders own 28.50% of the company's stock.

Hedge Funds Weigh In On TMC the metals

A number of hedge funds have recently modified their holdings of the business. First Manhattan CO. LLC. raised its holdings in 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 purchasing an additional 10,025,000 shares during the last quarter. Old West Investment Management LLC raised its stake 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 during the last quarter. Baird Financial Group Inc. lifted its holdings in TMC the metals by 35.1% in the first 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 period. Jane Street Group LLC boosted its position in TMC the metals by 7,330.9% during the fourth 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 during the last quarter. Finally, Shay Capital LLC grew its holdings in TMC the metals by 965.6% during 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. Institutional investors and hedge funds own 4.39% of the company's stock.

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.

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