TMC the metals (NASDAQ:TMC) Sees Strong Trading Volume – Here’s Why

by · The Cerbat Gem

Shares of TMC the metals company Inc. (NASDAQ:TMC – Get Free Report) saw an uptick in trading volume on Wednesday . 4,458,304 shares traded hands during mid-day trading, an increase of 125% from the previous session’s volume of 1,979,530 shares.The stock last traded at $2.98 and had previously closed at $2.87.

Analyst Ratings Changes

A number of research firms have issued reports on TMC. Wedbush restated a “neutral” rating and set a $4.00 price target on shares of TMC the metals in a research note on Friday, March 28th. Alliance Global Partners started coverage on TMC the metals in a report on Wednesday, January 15th. They issued a “buy” rating and a $3.75 target price on the stock.

View Our Latest Stock Report on TMC the metals

TMC the metals Trading Up 6.1 %

The firm has a market cap of $1.03 billion, a PE ratio of -9.55 and a beta of 1.46. The stock has a 50 day simple moving average of $1.91 and a 200-day simple moving average of $1.38.

TMC the metals (NASDAQ:TMC – Get Free Report) last released its quarterly earnings data on Thursday, March 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. The company had revenue of ($20.18) million for the quarter. On average, equities research analysts expect that TMC the metals company Inc. will post -0.22 EPS for the current year.

Insiders Place Their Bets

In other TMC the metals news, CFO Craig Shesky sold 353,702 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $1.66, for a total transaction of $587,145.32. Following the sale, the chief financial officer now directly owns 1,145,717 shares of the company’s stock, valued at $1,901,890.22. The trade was a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 30.00% of the company’s stock.

Institutional Trading of TMC the metals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in TMC the metals in the 4th quarter worth about $28,000. Prudential Financial Inc. purchased a new stake in TMC the metals in the fourth quarter worth $47,000. Old West Investment Management LLC lifted its position in shares of TMC the metals by 168.0% during the fourth quarter. Old West Investment Management LLC now owns 2,135,038 shares of the company’s stock worth $2,391,000 after purchasing an additional 1,338,423 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of TMC the metals in the fourth quarter worth about $28,000. Finally, Tidal Investments LLC boosted its position in TMC the metals by 32.6% in the 3rd quarter. Tidal Investments LLC now owns 485,332 shares of the company’s stock valued at $514,000 after buying an additional 119,335 shares during the period. Hedge funds and other institutional investors own 4.39% of the company’s stock.

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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