Investors Purchase Large Volume of TMC the metals Call Options (NASDAQ:TMC)

TMC the metals company Inc. (NASDAQ:TMC) was the target of some unusual options trading on Thursday. Investors purchased 76,689 call options on the company. This represents an increase of 216% compared to the average volume of 24,242 call options.

Analyst Upgrades and Downgrades

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

TMC the metals Stock Performance

TMC stock opened at $6.79 on Thursday. TMC the metals has a one year low of $0.72 and a one year high of $11.35. The firm has a market cap of $2.81 billion, a PE ratio of -8.82 and a beta of 1.82. The firm’s 50 day moving average price is $6.90 and its 200-day moving average price is $6.32.

TMC the metals (NASDAQ:TMC) last posted its quarterly earnings data 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). Equities research analysts predict that TMC the metals will post -0.22 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Erika Ilves sold 1,591,485 shares of TMC the metals stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $5.77, for a total transaction of $9,182,868.45. Following the completion of the sale, the insider owned 1,145,792 shares of the company’s stock, valued at approximately $6,611,219.84. This trade represents a 58.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anthony O’sullivan sold 50,000 shares of TMC the metals stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $6.77, for a total transaction of $338,500.00. Following the completion of the transaction, the insider owned 2,025,667 shares in the company, valued at approximately $13,713,765.59. The trade was a 2.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,691,485 shares of company stock worth $9,846,868 over the last 90 days. 27.60% of the stock is currently owned by corporate insiders.

Institutional Trading of TMC the metals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FNY Investment Advisers LLC acquired a new stake in shares of TMC the metals during the third quarter worth about $138,000. Allworth Financial LP raised its stake in TMC the metals by 52.0% during the 3rd quarter. Allworth Financial LP now owns 47,521 shares of the company’s stock valued at $303,000 after acquiring an additional 16,266 shares during the last quarter. Cantor Fitzgerald L. P. acquired a new stake in TMC the metals during the 3rd quarter worth approximately $318,000. Sunbelt Securities Inc. purchased a new position in shares of TMC the metals in the 3rd quarter valued at approximately $34,000. Finally, Sender Co & Partners Inc. acquired a new position in shares of TMC the metals in the third quarter valued at approximately $110,000. 4.39% of the stock is currently owned by institutional investors and hedge funds.

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.