TMC the metals (NASDAQ:TMC) Earns Neutral Rating from Wedbush

TMC the metals (NASDAQ:TMC)‘s stock had its “neutral” rating reaffirmed by equities researchers at Wedbush in a research note issued on Friday,Benzinga reports. They currently have a $6.00 price target on the stock. Wedbush’s price target suggests a potential upside of 64.84% from the company’s previous close.

TMC the metals Price Performance

Shares of TMC opened at $3.64 on Friday. The company has a market capitalization of $1.27 billion, a P/E ratio of -11.74 and a beta of 1.33. TMC the metals has a one year low of $0.72 and a one year high of $3.80. The business’s 50 day simple moving average is $2.41 and its 200-day simple moving average is $1.68.

TMC the metals (NASDAQ:TMC) last announced its earnings results on Wednesday, May 14th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). On average, sell-side analysts anticipate that TMC the metals will post -0.22 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Craig Shesky sold 353,702 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $1.66, for a total value of $587,145.32. Following the completion of the transaction, the chief financial officer now owns 1,145,717 shares in the company, valued at $1,901,890.22. The trade was a 23.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 30.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Allworth Financial LP raised its position in shares of TMC the metals by 48.0% during the 1st quarter. Allworth Financial LP now owns 14,796 shares of the company’s stock valued at $25,000 after acquiring an additional 4,796 shares during the last quarter. Sprott Inc. bought a new stake in shares of TMC the metals during the 1st quarter valued at $26,000. Gray Wealth Management Inc. raised its position in shares of TMC the metals by 59.7% during the 4th quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company’s stock valued at $27,000 after acquiring an additional 8,863 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of TMC the metals during the 4th quarter valued at $28,000. Finally, Raymond James Financial Inc. bought a new stake in shares of TMC the metals during the 4th quarter valued at $28,000. Institutional investors own 4.39% of the company’s 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.