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

TMC the metals company Inc. (NASDAQ:TMC) was the recipient of some unusual options trading on Friday. Investors purchased 38,262 call options on the company. This represents an increase of approximately 139% compared to the average daily volume of 16,038 call options.

Insider Transactions at TMC the metals

In other news, Director Brendan May sold 20,768 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $6.42, for a total transaction of $133,330.56. Following the transaction, the director owned 193,346 shares in the company, valued at approximately $1,241,281.32. This trade represents a 9.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 28.50% of the stock is currently owned by company insiders.

Institutional Trading of TMC the metals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC purchased a new stake in TMC the metals during the 2nd quarter worth approximately $28,000. Osterweis Capital Management Inc. purchased a new stake in shares of TMC the metals in the 4th quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of TMC the metals in the 4th quarter valued at $29,000. Sunbelt Securities Inc. purchased a new stake in shares of TMC the metals during the 3rd quarter worth $34,000. Finally, Farther Finance Advisors LLC grew its stake in shares of TMC the metals by 465.8% during the fourth quarter. Farther Finance Advisors LLC now owns 5,686 shares of the company’s stock worth $35,000 after purchasing an additional 4,681 shares in the last quarter. Hedge funds and other institutional investors own 4.39% of the company’s stock.

TMC the metals Price Performance

TMC traded up $0.69 during trading on Friday, reaching $4.66. 6,931,556 shares of the company’s stock were exchanged, compared to its average volume of 6,382,998. TMC the metals has a 1 year low of $3.40 and a 1 year high of $11.35. The stock has a market capitalization of $2.02 billion, a P/E ratio of -6.38 and a beta of 2.06. The company’s fifty day simple moving average is $4.22 and its 200-day simple moving average is $5.10.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $11.75 price objective on shares of TMC the metals in a research note on Tuesday, June 2nd. Wall Street Zen upgraded shares of TMC the metals from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of TMC the metals in a report on Friday, July 17th. Maxim Group began coverage on shares of TMC the metals in a research report on Thursday, June 4th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, Wedbush lifted their price target on shares of TMC the metals from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Three investment 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. According to data from MarketBeat, TMC the metals presently has a consensus rating of “Hold” and a consensus price target of $10.58.

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.