TMC the metals (NASDAQ:TMC) Stock Price Up 14.5% – Still a Buy?

Shares of TMC the metals company Inc. (NASDAQ:TMC) shot up 14.5% during mid-day trading on Monday . The company traded as high as $1.72 and last traded at $1.97. 2,147,102 shares traded hands during trading, an increase of 32% from the average session volume of 1,629,254 shares. The stock had previously closed at $1.72.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wedbush reaffirmed a “neutral” rating and issued a $4.00 price target on shares of TMC the metals in a report on Friday, March 28th. Alliance Global Partners assumed coverage on TMC the metals in a research note on Wednesday, January 15th. They issued a “buy” rating and a $3.75 target price for the company.

TMC the metals Stock Performance

The company’s 50 day simple moving average is $1.78 and its 200-day simple moving average is $1.28. The firm has a market capitalization of $607.99 million, a PE ratio of -6.05 and a beta of 1.52.

TMC the metals (NASDAQ:TMC) last issued its quarterly earnings data on Thursday, March 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. The business had revenue of ($20.18) million during the quarter. On average, equities research analysts forecast that TMC the metals company Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Transactions at TMC the metals

In other news, CFO Craig Shesky sold 353,702 shares of TMC the metals stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $1.66, for a total transaction of $587,145.32. Following the completion of the sale, the chief financial officer now directly owns 1,145,717 shares of the company’s stock, valued at approximately $1,901,890.22. The trade was a 23.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 30.00% of the stock is owned by insiders.

Institutional Investors Weigh In On TMC the metals

Large investors have recently added to or reduced their stakes in the company. Gray Wealth Management Inc. increased its position in shares of TMC the metals by 59.7% during the 4th quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company’s stock valued at $27,000 after purchasing an additional 8,863 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in TMC the metals during the fourth quarter valued at approximately $28,000. Raymond James Financial Inc. purchased a new position in shares of TMC the metals during the fourth quarter worth approximately $28,000. Independent Advisor Alliance bought a new stake in shares of TMC the metals in the 4th quarter worth approximately $42,000. Finally, Virtu Financial LLC bought a new position in shares of TMC the metals during the 3rd quarter valued at $44,000. Hedge funds and other 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.