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

TMC the metals company Inc. (NASDAQ:TMC) saw some unusual options trading on Monday. Traders acquired 20,032 call options on the company. This is an increase of approximately 103% compared to the typical daily volume of 9,857 call options.

Analyst Ratings Changes

Separately, Wedbush restated a “neutral” rating and issued a $6.00 price target on shares of TMC the metals in a report on Friday.

TMC the metals Trading Up 21.6%

Shares of TMC stock traded up $0.79 during trading hours on Monday, hitting $4.43. 15,494,527 shares of the company were exchanged, compared to its average volume of 2,965,759. TMC the metals has a 52 week low of $0.72 and a 52 week high of $4.55. The business has a 50 day moving average of $2.41 and a two-hundred day moving average of $1.68. The company has a market capitalization of $1.54 billion, a PE ratio of -14.40 and a beta of 1.33.

TMC the metals (NASDAQ:TMC) last released its earnings results on Wednesday, May 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). On average, research analysts forecast that TMC the metals will post -0.22 EPS for the current year.

Insider Activity

In other news, CFO Craig Shesky sold 353,702 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $1.66, for a total value of $587,145.32. Following the completion of the sale, the chief financial officer now directly owns 1,145,717 shares of the company’s stock, valued at $1,901,890.22. This represents a 23.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 30.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TMC the metals

A number of hedge funds and other institutional investors have recently bought and sold shares of TMC. Allworth Financial LP grew its stake in shares of TMC the metals by 48.0% during the 1st quarter. Allworth Financial LP now owns 14,796 shares of the company’s stock worth $25,000 after acquiring an additional 4,796 shares in the last quarter. Sprott Inc. acquired a new position in TMC the metals during the first quarter worth $26,000. Gray Wealth Management Inc. grew its position in TMC the metals by 59.7% in the fourth quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company’s stock valued at $27,000 after purchasing an additional 8,863 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in TMC the metals in the 4th quarter valued at $28,000. Finally, Raymond James Financial Inc. bought a new stake in TMC the metals during the 4th quarter worth about $28,000. Institutional investors and hedge funds own 4.39% of the company’s stock.

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.