TMC the metals Sees Unusually Large Options Volume (NASDAQ:TMC)

TMC the metals company Inc. (NASDAQ:TMC) was the recipient of unusually large options trading activity on Friday. Traders acquired 38,855 call options on the company. This represents an increase of approximately 59% compared to the typical daily volume of 24,489 call options.

Analysts Set New Price Targets

A number of research firms have weighed in on TMC. HC Wainwright lifted their price target on shares of TMC the metals from $7.50 to $11.75 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TMC the metals in a report on Wednesday, January 21st. Finally, Wedbush decreased their price objective on TMC the metals from $11.00 to $8.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.88.

Hedge Funds Weigh In On TMC the metals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Encompass Capital Advisors LLC acquired a new position in shares of TMC the metals in the 4th quarter valued at $18,510,000. Old West Investment Management LLC grew its holdings in shares of TMC the metals by 49.6% in the 3rd quarter. Old West Investment Management LLC now owns 1,997,238 shares of the company’s stock valued at $12,722,000 after buying an additional 662,200 shares during the period. State Street Corp grew its holdings in shares of TMC the metals by 2.4% in the 4th quarter. State Street Corp now owns 986,160 shares of the company’s stock valued at $6,085,000 after buying an additional 23,095 shares during the period. Verition Fund Management LLC lifted its holdings in shares of TMC the metals by 120.1% during the 4th quarter. Verition Fund Management LLC now owns 817,364 shares of the company’s stock valued at $5,043,000 after purchasing an additional 445,985 shares in the last quarter. Finally, Tudor Investment Corp ET AL grew its holdings in shares of TMC the metals by 57.8% during the fourth quarter. Tudor Investment Corp ET AL now owns 698,185 shares of the company’s stock worth $4,308,000 after buying an additional 255,766 shares in the last quarter. Institutional investors and hedge funds own 4.39% of the company’s stock.

TMC the metals Stock Performance

TMC the metals stock opened at $5.32 on Friday. The firm has a market cap of $2.30 billion, a P/E ratio of -6.65 and a beta of 2.00. The business’s fifty day moving average is $5.53 and its two-hundred day moving average is $6.55. TMC the metals has a 52 week low of $2.22 and a 52 week high of $11.35.

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. Its products are used in electric vehicles (EV), renewable energy storage markets, EV wiring, energy transmission, manganese alloy production required for steel production, and other applications.