Weiss Ratings Reiterates "Sell (D-)" Rating for TMC the metals (NASDAQ:TMC)

Key Points

• Weiss Ratings has maintained a "Sell (D-)" rating for TMC the metals (NASDAQ:TMC), indicating continued concerns about the company's stock performance.
• TMC the metals shares are currently trading at $9.12, reflecting a 1.7% decrease in value, with a 50-day moving average of $5.77 showing potential instability.
• Insiders have sold significant amounts of TMC stock recently, with one insider decreasing their position by 58.14%, suggesting potential lack of confidence in future performance.

TMC the metals (NASDAQ:TMC - Get Free Report)'s stock had its "sell (d-)" rating reiterated by Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

TMC has been the subject of several other reports. HC Wainwright reiterated a "buy" rating and issued a $7.25 price target on shares of TMC the metals in a research note on Monday, August 18th. Zacks Research upgraded shares of TMC the metals from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 19th. Finally, Wedbush upgraded shares of TMC the metals from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $6.00 to $11.00 in a research note on Wednesday, June 25th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $7.33.

TMC the metals Stock Down 1.7%

Shares of NASDAQ:TMC traded down $0.16 on Wednesday, hitting $9.12. The company had a trading volume of 15,874,261 shares, compared to its average volume of 9,160,234. The firm's 50-day simple moving average is $5.77 and its two-hundred day simple moving average is $4.90. TMC the metals has a 1 year low of $0.72 and a 1 year high of $9.55. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of -24.65 and a beta of 1.70.

TMC the metals (NASDAQ:TMC - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01). Equities research analysts anticipate that TMC the metals will post -0.22 EPS for the current year.

Insider Transactions at TMC the metals

In other news, insider Anthony O'sullivan sold 250,000 shares of the firm's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $5.25, for a total transaction of $1,312,500.00. Following the sale, the insider owned 1,125,667 shares of the company's stock, valued at $5,909,751.75. This trade represents a 18.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Erika Ilves sold 1,591,485 shares of the firm's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $5.77, for a total transaction of $9,182,868.45. Following the completion of the transaction, the insider directly owned 1,145,792 shares in the company, valued at approximately $6,611,219.84. The trade was a 58.14% decrease in their position. The disclosure for this sale can be found here. Company insiders own 27.60% of the company's stock.

Institutional Trading of TMC the metals

Large investors have recently added to or reduced their stakes in the business. Allworth Financial LP lifted its holdings in 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 in the last quarter. Sprott Inc. purchased a new position in shares of TMC the metals in the first quarter worth $26,000. NewEdge Advisors LLC purchased a new position in shares of TMC the metals in the second quarter worth $28,000. Wolverine Asset Management LLC lifted its holdings in shares of TMC the metals by 752.6% in the second quarter. Wolverine Asset Management LLC now owns 4,945 shares of the company's stock worth $33,000 after buying an additional 4,365 shares in the last quarter. Finally, KBC Group NV purchased a new position in shares of TMC the metals in the second quarter worth $37,000. 4.39% of the stock is currently owned by institutional investors.

About TMC the metals

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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