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

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

Analysts Set New Price Targets

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

Institutional Trading of TMC the metals

Large investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC bought a new stake in TMC the metals in the second quarter valued at $28,000. Osterweis Capital Management Inc. bought a new stake in TMC the metals in the fourth quarter valued at $29,000. Caitong International Asset Management Co. Ltd bought a new stake in TMC the metals in the fourth quarter valued at $29,000. Sunbelt Securities Inc. bought a new stake in shares of TMC the metals during the 3rd quarter valued at $34,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of TMC the metals by 465.8% during the 4th quarter. Farther Finance Advisors LLC now owns 5,686 shares of the company’s stock valued at $35,000 after buying an additional 4,681 shares in the last quarter. Institutional investors own 4.39% of the company’s stock.

TMC the metals Price Performance

NASDAQ:TMC traded up $0.32 during trading hours on Friday, hitting $5.48. The company had a trading volume of 4,102,101 shares, compared to its average volume of 7,498,691. The company has a market capitalization of $2.37 billion, a PE ratio of -6.83 and a beta of 2.00. The stock has a 50-day moving average price of $5.55 and a 200 day moving average price of $6.56. TMC the metals has a 52 week low of $2.22 and a 52 week high of $11.35.

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. 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.