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

TMC the metals company Inc. (NASDAQ:TMC) was the recipient of some unusual options trading on Wednesday. Stock traders purchased 53,384 call options on the stock. This is an increase of approximately 125% compared to the typical daily volume of 23,720 call options.

TMC the metals Price Performance

Shares of NASDAQ:TMC opened at $7.40 on Wednesday. TMC the metals has a 1 year low of $0.72 and a 1 year high of $11.35. The company has a market capitalization of $3.06 billion, a PE ratio of -9.61 and a beta of 1.82. The business has a fifty day moving average price of $6.89 and a two-hundred day moving average price of $6.12.

TMC the metals (NASDAQ:TMC) last issued its earnings results on Thursday, November 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.08). Sell-side analysts anticipate that TMC the metals will post -0.22 earnings per share for the current year.

Insider Activity

In other news, insider Erika Ilves sold 1,591,485 shares of TMC the metals stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $5.77, for a total value of $9,182,868.45. Following the completion of the transaction, the insider owned 1,145,792 shares of the company’s stock, valued at $6,611,219.84. This trade represents a 58.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Anthony O’sullivan sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $6.77, for a total value of $338,500.00. Following the transaction, the insider directly owned 2,025,667 shares in the company, valued at approximately $13,713,765.59. This trade represents a 2.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,691,485 shares of company stock worth $9,846,868 in the last three months. Company insiders own 27.60% of the company’s stock.

Hedge Funds Weigh In On TMC the metals

Institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. purchased a new stake in shares of TMC the metals during the 1st quarter worth approximately $211,000. Baird Financial Group Inc. boosted its position in shares of TMC the metals by 35.1% during the first quarter. Baird Financial Group Inc. now owns 2,946,027 shares of the company’s stock valued at $5,067,000 after buying an additional 766,167 shares during the period. Old West Investment Management LLC boosted its holdings in TMC the metals by 100.0% during the 1st quarter. Old West Investment Management LLC now owns 4,270,076 shares of the company’s stock valued at $7,345,000 after acquiring an additional 2,135,038 shares during the period. Mirador Capital Partners LP purchased a new position in TMC the metals in the 2nd quarter worth about $731,000. Finally, Abacus Wealth Partners LLC boosted its holdings in shares of TMC the metals by 187.5% in the second quarter. Abacus Wealth Partners LLC now owns 92,000 shares of the company’s stock valued at $607,000 after purchasing an additional 60,000 shares during the period. Institutional investors own 4.39% of the company’s stock.

Analysts Set New Price Targets

TMC has been the topic of several research analyst reports. HC Wainwright upped their target price on TMC the metals from $7.25 to $7.50 and gave the company a “buy” rating in a research report on Friday, November 14th. Zacks Research upgraded TMC the metals from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TMC the metals in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.42.

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.