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

TMC the metals company Inc. (NASDAQ:TMC) was the target of some unusual options trading activity on Friday. Stock traders acquired 11,817 put options on the company. This is an increase of 226% compared to the average daily volume of 3,622 put options.

TMC the metals Trading Up 1.2 %

Shares of NASDAQ TMC opened at $1.72 on Friday. The company has a market capitalization of $557.73 million, a price-to-earnings ratio of -5.55 and a beta of 1.52. TMC the metals has a twelve month low of $0.72 and a twelve month high of $2.55. The business has a 50 day simple moving average of $1.78 and a 200-day simple moving average of $1.27.

TMC the metals (NASDAQ:TMC) last posted its quarterly earnings results on Thursday, March 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. The business had revenue of ($20.18) million during the quarter. As a group, equities analysts predict that TMC the metals will post -0.22 earnings per share for the current year.

Insider Activity at TMC the metals

In other TMC the metals news, insider Erika Ilves sold 217,099 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $1.11, for a total value of $240,979.89. Following the transaction, the insider now directly owns 998,170 shares of the company’s stock, valued at $1,107,968.70. This represents a 17.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 30.00% of the company’s stock.

Hedge Funds Weigh In On TMC the metals

A number of large investors have recently bought and sold shares of TMC. First Manhattan CO. LLC. lifted its position in TMC the metals by 115.2% in the 4th quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company’s stock valued at $20,974,000 after purchasing an additional 10,025,000 shares during the last quarter. Old West Investment Management LLC boosted its holdings in shares of TMC the metals by 168.0% in the fourth quarter. Old West Investment Management LLC now owns 2,135,038 shares of the company’s stock valued at $2,391,000 after acquiring an additional 1,338,423 shares in the last quarter. Jane Street Group LLC increased its stake in shares of 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 period. Shay Capital LLC raised its holdings in TMC the metals by 965.6% during the fourth quarter. Shay Capital LLC now owns 932,404 shares of the company’s stock worth $1,044,000 after purchasing an additional 844,904 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in TMC the metals by 11.9% in the fourth quarter. Tidal Investments LLC now owns 542,938 shares of the company’s stock worth $608,000 after purchasing an additional 57,606 shares during the period. Institutional investors own 4.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wedbush reissued a “neutral” rating and set a $4.00 price objective on shares of TMC the metals in a report on Friday. Alliance Global Partners began coverage on shares of TMC the metals in a research report on Wednesday, January 15th. They set a “buy” rating and a $3.75 price target on the stock.

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.