TMC the metals (NASDAQ:TMC) Trading Up 7% – What’s Next?

TMC the metals company Inc. (NASDAQ:TMC)’s stock price traded up 7% during mid-day trading on Tuesday . The company traded as high as $3.96 and last traded at $4.0350. Approximately 2,941,425 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 6,365,526 shares. The stock had previously closed at $3.77.

Analyst Upgrades and Downgrades

TMC has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of TMC the metals in a research note on Friday, July 17th. HC Wainwright restated a “buy” rating and issued a $11.75 price target on shares of TMC the metals in a report on Tuesday, June 2nd. Wedbush upped their price objective on shares of TMC the metals from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Maxim Group began coverage on shares of TMC the metals in a research report on Thursday, June 4th. They set a “buy” rating and a $10.00 price objective on the stock. Finally, Wall Street Zen upgraded TMC the metals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.58.

TMC the metals Stock Up 1.3%

The firm has a 50 day moving average price of $4.25 and a 200 day moving average price of $5.11. The stock has a market capitalization of $1.72 billion, a PE ratio of -5.44 and a beta of 2.06.

TMC the metals (NASDAQ:TMC) last announced its earnings results on Thursday, August 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.08). On average, equities analysts forecast that TMC the metals company Inc. will post -0.32 earnings per share for the current fiscal year.

Insider Transactions at TMC the metals

In other TMC the metals news, Director Brendan May sold 20,768 shares of TMC the metals stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $6.42, for a total transaction of $133,330.56. Following the transaction, the director directly owned 193,346 shares of the company’s stock, valued at $1,241,281.32. The trade was a 9.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 28.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TMC. NewEdge Advisors LLC purchased a new position in TMC the metals during the second quarter worth about $28,000. Osterweis Capital Management Inc. bought a new position in shares of TMC the metals during the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of TMC the metals during the 4th quarter worth approximately $29,000. Sunbelt Securities Inc. bought a new position in shares of TMC the metals during the 3rd quarter worth approximately $34,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of TMC the metals by 465.8% in the 4th quarter. Farther Finance Advisors LLC now owns 5,686 shares of the company’s stock worth $35,000 after buying an additional 4,681 shares during the last quarter. 4.39% of the stock is owned by institutional investors.

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.