Traders Buy High Volume of Call Options on TMC the metals (NASDAQ:TMC)

TMC the metals company Inc. (NASDAQ:TMC) was the target of some unusual options trading on Thursday. Traders bought 76,689 call options on the company. This is an increase of 216% compared to the average volume of 24,242 call options.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TMC shares. HC Wainwright upped their target price on shares of TMC the metals from $7.25 to $7.50 and gave the stock a “buy” rating in a research report on Friday, November 14th. Zacks Research raised shares of TMC the metals from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of TMC the metals in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.42.

Insider Transactions at TMC the metals

In related news, insider Anthony O’sullivan sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $6.77, for a total value of $338,500.00. Following the transaction, the insider directly owned 2,025,667 shares of the company’s stock, valued at approximately $13,713,765.59. The trade was a 2.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Erika Ilves sold 1,591,485 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $5.77, for a total value of $9,182,868.45. Following the completion of the transaction, the insider owned 1,145,792 shares of the company’s stock, valued at $6,611,219.84. The trade was a 58.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,691,485 shares of company stock worth $9,846,868. Insiders own 27.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. acquired a new position in TMC the metals during the 1st quarter valued at about $211,000. Baird Financial Group Inc. lifted its stake in shares of TMC the metals by 35.1% in the 1st quarter. Baird Financial Group Inc. now owns 2,946,027 shares of the company’s stock worth $5,067,000 after acquiring an additional 766,167 shares during the period. Old West Investment Management LLC boosted its holdings in shares of TMC the metals by 100.0% in the first quarter. Old West Investment Management LLC now owns 4,270,076 shares of the company’s stock valued at $7,345,000 after acquiring an additional 2,135,038 shares in the last quarter. Mirador Capital Partners LP acquired a new position in shares of TMC the metals during the second quarter valued at approximately $731,000. Finally, Abacus Wealth Partners LLC increased its stake in shares of TMC the metals by 187.5% during the second quarter. Abacus Wealth Partners LLC now owns 92,000 shares of the company’s stock valued at $607,000 after acquiring an additional 60,000 shares during the period. Institutional investors own 4.39% of the company’s stock.

TMC the metals Trading Up 1.9%

TMC stock opened at $6.92 on Friday. The stock’s 50 day simple moving average is $6.85 and its 200 day simple moving average is $6.32. TMC the metals has a 12-month low of $0.72 and a 12-month high of $11.35. The firm has a market cap of $2.86 billion, a P/E ratio of -8.99 and a beta of 1.82.

TMC the metals (NASDAQ:TMC) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). On average, research analysts forecast that TMC the metals will post -0.22 EPS for the current fiscal year.

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.