TMC the metals (NASDAQ:TMC) Trading 11.9% Higher – Time to Buy?

Shares of TMC the metals company Inc. (NASDAQ:TMC) were up 11.9% on Friday . The company traded as high as $7.35 and last traded at $7.14. Approximately 19,253,357 shares were traded during trading, an increase of 337% from the average daily volume of 4,404,476 shares. The stock had previously closed at $6.38.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TMC shares. HC Wainwright started coverage on TMC the metals in a research report on Tuesday, May 20th. They set a “buy” rating and a $5.50 target price on the stock. Wedbush raised TMC the metals from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $6.00 to $11.00 in a research report on Wednesday, June 25th.

TMC the metals Trading Up 11.9%

The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of -31.04 and a beta of 1.57. The firm has a fifty day moving average price of $4.68 and a 200 day moving average price of $2.76.

TMC the metals (NASDAQ:TMC) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). As a group, equities analysts predict that TMC the metals company Inc. will post -0.22 EPS for the current fiscal year.

Insider Buying and Selling at TMC the metals

In other TMC the metals news, insider Anthony O’sullivan sold 164,317 shares of TMC the metals stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $4.49, for a total value of $737,783.33. Following the sale, the insider owned 1,125,667 shares of the company’s stock, valued at $5,054,244.83. This trade represents a 12.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Brendan May sold 44,204 shares of TMC the metals stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $7.38, for a total value of $326,225.52. Following the completion of the sale, the director directly owned 197,586 shares in the company, valued at $1,458,184.68. This represents a 18.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 233,521 shares of company stock worth $1,259,009 in the last ninety days. 28.50% of the stock is currently owned by company insiders.

Institutional Trading of TMC the metals

Large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC boosted its holdings in shares of TMC the metals by 11.9% during the fourth quarter. Tidal Investments LLC now owns 542,938 shares of the company’s stock worth $608,000 after acquiring an additional 57,606 shares during the period. Parallel Advisors LLC bought a new stake in shares of TMC the metals during the first quarter worth approximately $61,000. First Manhattan CO. LLC. boosted its stake in shares of TMC the metals by 115.2% in the fourth quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company’s stock valued at $20,974,000 after buying an additional 10,025,000 shares during the period. Raymond James Financial Inc. bought a new stake in shares of TMC the metals in the fourth quarter valued at approximately $28,000. Finally, Prudential Financial Inc. bought a new stake in shares of TMC the metals in the fourth quarter valued at approximately $47,000. Institutional investors and hedge funds own 4.39% of the company’s stock.

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.