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

TMC the metals company Inc. (NASDAQ:TMC) saw some unusual options trading on Monday. Investors bought 20,032 call options on the stock. This represents an increase of approximately 103% compared to the typical daily volume of 9,857 call options.

Insider Buying and Selling at TMC the metals

In other TMC the metals news, CFO Craig Shesky sold 353,702 shares of the firm’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 value of $587,145.32. Following the sale, the chief financial officer now owns 1,145,717 shares of the company’s stock, valued at $1,901,890.22. This trade represents a 23.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 30.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. acquired a new position in TMC the metals during the fourth quarter worth $28,000. SBI Securities Co. Ltd. acquired a new position in TMC the metals during the fourth quarter valued at approximately $94,000. Raymond James Financial Inc. bought a new position in TMC the metals in the fourth quarter valued at approximately $28,000. Independent Advisor Alliance acquired a new position in shares of TMC the metals during the 4th quarter worth approximately $42,000. Finally, Gray Wealth Management Inc. raised its stake 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 worth $27,000 after purchasing an additional 8,863 shares in the last quarter. Institutional investors and hedge funds own 4.39% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wedbush reiterated a “neutral” rating and issued a $6.00 price objective on shares of TMC the metals in a research note on Friday.

TMC the metals Stock Up 22.3%

Shares of TMC stock opened at $4.45 on Tuesday. The stock has a 50-day moving average price of $2.46 and a 200 day moving average price of $1.71. TMC the metals has a 12 month low of $0.72 and a 12 month high of $4.56. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -14.35 and a beta of 1.33.

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

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.