Traders Buy High Volume of Call Options on TMC the metals (NASDAQ:TMC)

TMC the metals company Inc. (NASDAQ:TMC) was the target of unusually large options trading activity on Tuesday. Traders purchased 74,963 call options on the company. This represents an increase of approximately 232% compared to the typical volume of 22,560 call options.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Zacks Research raised TMC the metals from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. HC Wainwright boosted their price objective 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. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of TMC the metals in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, TMC the metals currently has an average rating of “Hold” and an average price target of $7.42.

Insider Activity

In related news, insider Erika Ilves sold 1,591,485 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $5.77, for a total value of $9,182,868.45. Following the sale, the insider directly owned 1,145,792 shares in the company, valued at approximately $6,611,219.84. The trade was a 58.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Anthony O’sullivan sold 250,000 shares of TMC the metals stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $5.25, for a total transaction of $1,312,500.00. Following the completion of the transaction, the insider owned 1,125,667 shares of the company’s stock, valued at $5,909,751.75. This represents a 18.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 27.60% of the company’s stock.

Hedge Funds Weigh In On TMC the metals

Several institutional investors have recently modified their holdings of TMC. NewEdge Advisors LLC bought a new stake in TMC the metals in the 2nd quarter worth approximately $28,000. Wolverine Asset Management LLC raised its stake in shares of TMC the metals by 752.6% during the second quarter. Wolverine Asset Management LLC now owns 4,945 shares of the company’s stock worth $33,000 after acquiring an additional 4,365 shares in the last quarter. KBC Group NV purchased a new position in shares of TMC the metals during the second quarter worth approximately $37,000. Quantbot Technologies LP bought a new stake in shares of TMC the metals in the 2nd quarter worth approximately $48,000. Finally, Webster Bank N. A. boosted its stake in shares of TMC the metals by 226.4% in the 3rd quarter. Webster Bank N. A. now owns 7,929 shares of the company’s stock valued at $51,000 after purchasing an additional 5,500 shares in the last quarter. 4.39% of the stock is currently owned by institutional investors.

TMC the metals Trading Up 10.8%

Shares of NASDAQ:TMC traded up $0.53 during trading on Tuesday, reaching $5.42. The company had a trading volume of 10,728,629 shares, compared to its average volume of 8,677,800. The company has a fifty day moving average of $6.83 and a two-hundred day moving average of $5.91. The stock has a market capitalization of $2.20 billion, a P/E ratio of -7.04 and a beta of 1.71. TMC the metals has a 12 month low of $0.72 and a 12 month high of $11.35.

TMC the metals (NASDAQ:TMC) last released its earnings results on Thursday, November 13th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). As a group, equities research analysts predict that TMC the metals will post -0.22 earnings per share for the current 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.