TMC the metals Target of Unusually High Options Trading (NASDAQ:TMC)

TMC the metals company Inc. (NASDAQ:TMC) was the recipient of some unusual options trading on Wednesday. Stock traders purchased 5,391 call options on the stock. This represents an increase of approximately 118% compared to the typical daily volume of 2,476 call options.

Insider Buying and Selling at TMC the metals

In other news, insider Erika Ilves sold 217,099 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $1.11, for a total value of $240,979.89. Following the transaction, the insider now directly owns 998,170 shares of the company’s stock, valued at $1,107,968.70. This represents a 17.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Craig Shesky sold 47,523 shares of TMC the metals stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $0.85, for a total transaction of $40,394.55. Following the sale, the chief financial officer now directly owns 977,844 shares of the company’s stock, valued at $831,167.40. The trade was a 4.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 30.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Old West Investment Management LLC increased its stake in TMC the metals by 100.0% during the 3rd quarter. Old West Investment Management LLC now owns 1,593,230 shares of the company’s stock worth $1,689,000 after acquiring an additional 796,615 shares during the period. Virtu Financial LLC acquired a new stake in shares of TMC the metals during the 3rd quarter worth $44,000. Tidal Investments LLC increased its position in shares of TMC the metals by 32.6% in the third quarter. Tidal Investments LLC now owns 485,332 shares of the company’s stock worth $514,000 after purchasing an additional 119,335 shares during the period. Oppenheimer & Co. Inc. acquired a new position in TMC the metals in the fourth quarter valued at about $28,000. Finally, SBI Securities Co. Ltd. bought a new stake in TMC the metals during the fourth quarter worth about $94,000. 4.39% of the stock is owned by institutional investors.

TMC the metals Stock Performance

NASDAQ:TMC traded up $0.23 during mid-day trading on Wednesday, reaching $2.30. 3,433,076 shares of the company’s stock were exchanged, compared to its average volume of 3,393,009. The firm has a market capitalization of $744.18 million, a PE ratio of -7.37 and a beta of 1.54. TMC the metals has a one year low of $0.72 and a one year high of $2.45. The business’s fifty day simple moving average is $1.33 and its two-hundred day simple moving average is $1.10.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners began coverage on TMC the metals in a research note on Wednesday, January 15th. They issued a “buy” rating and a $3.75 price target for the company.

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.