TMC the metals (NASDAQ:TMC) Stock Price Down 4.8% – What’s Next?

TMC the metals company Inc. (NASDAQ:TMC) dropped 4.8% during trading on Tuesday . The stock traded as low as $7.29 and last traded at $7.3390. Approximately 1,475,039 shares were traded during trading, a decline of 83% from the average daily volume of 8,746,166 shares. The stock had previously closed at $7.71.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TMC. HC Wainwright increased their price objective on shares of TMC the metals from $7.25 to $7.50 and gave the stock a “buy” rating in a research note 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 reiterated a “sell (d-)” rating on shares of TMC the metals in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, TMC the metals currently has an average rating of “Hold” and a consensus price target of $7.42.

TMC the metals Stock Performance

The firm’s 50 day moving average is $6.66 and its 200-day moving average is $6.44. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of -9.90 and a beta of 1.82.

TMC the metals (NASDAQ:TMC) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.08). As a group, sell-side analysts forecast that TMC the metals company Inc. will post -0.22 earnings per share for the current year.

Insider Buying and Selling at TMC the metals

In related news, insider Anthony O’sullivan sold 50,000 shares of TMC the metals stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $6.77, for a total value of $338,500.00. Following the completion of the transaction, the insider owned 2,025,667 shares in the company, valued at $13,713,765.59. The trade was a 2.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 27.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TMC. NewEdge Advisors LLC acquired a new stake in TMC the metals in the 2nd quarter valued at $28,000. Wolverine Asset Management LLC lifted its holdings in TMC the metals by 752.6% during the second quarter. Wolverine Asset Management LLC now owns 4,945 shares of the company’s stock valued at $33,000 after purchasing an additional 4,365 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in TMC the metals during the third quarter valued at $34,000. KBC Group NV acquired a new stake in shares of TMC the metals in the second quarter valued at about $37,000. Finally, Quantbot Technologies LP purchased a new stake in shares of TMC the metals during the second quarter worth about $48,000. 4.39% of the stock is owned by institutional investors and hedge funds.

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. 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.