TMC the metals (NASDAQ:TMC) Trading Down 3.9% – What’s Next?

TMC the metals company Inc. (NASDAQ:TMC) shares dropped 3.9% during mid-day trading on Wednesday . The stock traded as low as $1.52 and last traded at $1.56. Approximately 676,653 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 4,472,591 shares. The stock had previously closed at $1.62.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners started coverage on TMC the metals in a research report on Wednesday, January 15th. They set a “buy” rating and a $3.75 price objective for the company.

TMC the metals Stock Down 4.0 %

The stock has a market cap of $504.22 million, a P/E ratio of -5.04 and a beta of 1.49. The business’s 50 day simple moving average is $1.00 and its two-hundred day simple moving average is $1.04.

Insider Buying and Selling at TMC the metals

In other TMC the metals news, insider Erika Ilves sold 217,099 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $1.11, for a total value of $240,979.89. Following the sale, the insider now owns 998,170 shares in the company, valued at approximately $1,107,968.70. The trade was a 17.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Craig Shesky sold 47,523 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $0.85, for a total transaction of $40,394.55. Following the transaction, the chief financial officer now owns 977,844 shares of the company’s stock, valued at approximately $831,167.40. The trade was a 4.63 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 330,622 shares of company stock worth $342,754. 30.00% of the stock is currently owned by insiders.

Institutional Trading of TMC the metals

Institutional investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in shares of TMC the metals during the 3rd quarter valued at $44,000. Tidal Investments LLC increased its stake in TMC the metals by 32.6% in the third quarter. Tidal Investments LLC now owns 485,332 shares of the company’s stock valued at $514,000 after purchasing an additional 119,335 shares in the last quarter. Finally, Old West Investment Management LLC raised its holdings in shares of TMC the metals by 100.0% during the third quarter. Old West Investment Management LLC now owns 1,593,230 shares of the company’s stock valued at $1,689,000 after purchasing an additional 796,615 shares during the period. Institutional investors 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.