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

Key Points

• Weiss Ratings reaffirmed a "Sell (D-)" rating for TMC the metals (NASDAQ:TMC), indicating a negative outlook for the stock.
• Zacks Research downgraded the stock from a "hold" to a "strong sell" rating, while HC Wainwright maintains a "buy" rating with a price target of $7.25.
• The stock has seen recent insider selling, with significant trades from insiders Anthony O'sullivan and Erika Ilves, indicating a decrease in their holdings.

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

Other equities research analysts have also recently issued research reports about the stock. Zacks Research cut shares of TMC the metals from a "hold" rating to a "strong sell" rating in a research note on Wednesday, October 15th. HC Wainwright reiterated a "buy" rating and set a $7.25 price target on shares of TMC the metals in a report on Monday, August 18th. Three investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, TMC the metals presently has a consensus rating of "Hold" and an average target price of $7.33.

TMC the metals Trading Down 0.3%

TMC traded down $0.02 on Friday, hitting $7.13. 5,234,860 shares of the company's stock were exchanged, compared to its average volume of 13,060,237. TMC the metals has a fifty-two week low of $0.72 and a fifty-two week high of $11.35. The firm has a 50-day moving average price of $6.54 and a 200-day moving average price of $5.47. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of -19.27 and a beta of 1.70.

TMC the metals (NASDAQ:TMC - Get Free Report) last announced its 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). On average, equities analysts predict that TMC the metals will post -0.22 EPS for the current year.

Insider Buying and Selling at TMC the metals

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

Institutional Trading of TMC the metals

Several institutional investors and hedge funds have recently bought and sold shares of TMC. Wealth Enhancement Advisory Services LLC purchased a new stake in TMC the metals in the 1st quarter valued at about $73,000. Concurrent Investment Advisors LLC purchased a new stake in TMC the metals in the 1st quarter valued at about $58,000. Allworth Financial LP raised its holdings in TMC the metals by 48.0% in the 1st quarter. Allworth Financial LP now owns 14,796 shares of the company's stock valued at $25,000 after buying an additional 4,796 shares during the period. XTX Topco Ltd raised its holdings in TMC the metals by 193.5% in the 1st quarter. XTX Topco Ltd now owns 170,004 shares of the company's stock valued at $292,000 after buying an additional 112,075 shares during the period. Finally, Abacus Wealth Partners LLC purchased a new stake in TMC the metals in the 1st quarter valued at about $55,000. 4.39% of the stock is currently owned by hedge funds and other 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.

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