TMC the metals (NASDAQ:TMC) Sees Unusually-High Trading Volume – Still a Buy?

TMC the metals company Inc. (NASDAQ:TMC) shares saw an uptick in trading volume on Wednesday . 4,458,304 shares were traded during mid-day trading, an increase of 125% from the previous session’s volume of 1,979,530 shares.The stock last traded at $2.98 and had previously closed at $2.87.

Analyst Ratings Changes

A number of research firms recently issued reports on TMC. Wedbush reissued a “neutral” rating and set a $4.00 price objective on shares of TMC the metals in a research report on Friday, March 28th. Alliance Global Partners initiated coverage on TMC the metals in a report on Wednesday, January 15th. They set a “buy” rating and a $3.75 price target for the company.

TMC the metals Stock Down 2.8 %

The business has a 50-day simple moving average of $1.87 and a two-hundred day simple moving average of $1.35. The company has a market cap of $970.67 million, a price-to-earnings ratio of -9.00 and a beta of 1.46.

TMC the metals (NASDAQ:TMC) last issued its quarterly earnings data on Thursday, March 27th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. The firm had revenue of ($20.18) million during the quarter. As a group, equities analysts anticipate that TMC the metals company Inc. will post -0.22 earnings per share for the current year.

Insider Transactions at TMC the metals

In other TMC the metals news, CFO Craig Shesky sold 353,702 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $1.66, for a total transaction of $587,145.32. Following the completion of the transaction, the chief financial officer now owns 1,145,717 shares in the company, valued at $1,901,890.22. This trade represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 30.00% of the company’s stock.

Institutional Trading of TMC the metals

Large investors have recently bought and sold shares of the stock. Parallel Advisors LLC bought a new stake in TMC the metals during the first quarter worth about $61,000. Tidal Investments LLC increased its holdings in TMC the metals by 11.9% during the 4th quarter. Tidal Investments LLC now owns 542,938 shares of the company’s stock valued at $608,000 after purchasing an additional 57,606 shares in the last quarter. Shay Capital LLC boosted its stake in TMC the metals by 965.6% in the fourth quarter. Shay Capital LLC now owns 932,404 shares of the company’s stock worth $1,044,000 after purchasing an additional 844,904 shares in the last quarter. First Manhattan CO. LLC. grew its holdings in shares of TMC the metals by 115.2% during the fourth quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company’s stock worth $20,974,000 after purchasing an additional 10,025,000 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of TMC the metals by 7,330.9% in the fourth quarter. Jane Street Group LLC now owns 1,345,812 shares of the company’s stock valued at $1,507,000 after buying an additional 1,364,424 shares in the last quarter. 4.39% of the stock is currently owned by institutional investors.

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.