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

TMC the metals company Inc. (NASDAQ:TMC) was the target of unusually large options trading on Friday. Stock investors acquired 38,262 call options on the stock. This is an increase of approximately 139% compared to the average volume of 16,038 call options.

Insiders Place Their Bets

In other TMC the metals news, Director Brendan May sold 20,768 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $6.42, for a total value of $133,330.56. Following the transaction, the director directly owned 193,346 shares in the company, valued at $1,241,281.32. This represents a 9.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 insiders.

Institutional Trading of TMC the metals

Several large investors have recently bought and sold shares of TMC. NewEdge Advisors LLC purchased a new position in shares of TMC the metals in the second quarter valued at $28,000. Osterweis Capital Management Inc. purchased a new position in TMC the metals during the 4th quarter valued at about $29,000. Caitong International Asset Management Co. Ltd acquired a new position in TMC the metals during the fourth quarter worth about $29,000. Sunbelt Securities Inc. purchased a new stake in shares of TMC the metals in the third quarter valued at about $34,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of TMC the metals by 465.8% in the fourth quarter. Farther Finance Advisors LLC now owns 5,686 shares of the company’s stock valued at $35,000 after purchasing an additional 4,681 shares in the last quarter. Institutional investors and hedge funds own 4.39% of the company’s stock.

Analyst Ratings Changes

TMC has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of TMC the metals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of TMC the metals in a research report on Friday, July 17th. HC Wainwright restated a “buy” rating and set a $11.75 price objective on shares of TMC the metals in a research report on Tuesday, June 2nd. Wedbush raised their target price on shares of TMC the metals from $8.00 to $10.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Finally, Maxim Group initiated coverage on shares of TMC the metals in a research note on Thursday, June 4th. They set a “buy” rating and a $10.00 price target on the stock. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.58.

TMC the metals Trading Up 17.4%

Shares of TMC traded up $0.69 during trading hours on Friday, reaching $4.66. The company had a trading volume of 6,931,556 shares, compared to its average volume of 6,382,998. TMC the metals has a 12-month low of $3.40 and a 12-month high of $11.35. The firm has a 50 day simple moving average of $4.22 and a 200-day simple moving average of $5.10. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -6.38 and a beta of 2.06.

TMC the metals (NASDAQ:TMC) last issued its 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). Sell-side analysts forecast that TMC the metals will post -0.32 earnings per share for the current year.

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.