TMC the metals (NASDAQ:TMC) Shares Up 7.6% – Time to Buy?

TMC the metals company Inc. (NASDAQ:TMC) traded up 7.6% during trading on Thursday . The company traded as high as $3.10 and last traded at $3.00. 3,411,896 shares were traded during mid-day trading, an increase of 67% from the average session volume of 2,041,252 shares. The stock had previously closed at $2.79.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TMC. Alliance Global Partners started coverage on shares of TMC the metals in a research note on Wednesday, January 15th. They set a “buy” rating and a $3.75 target price for the company. Wedbush reaffirmed a “neutral” rating and set a $4.00 price objective on shares of TMC the metals in a research report on Friday, March 28th.

TMC the metals Trading Up 6.1 %

The company has a fifty day moving average of $1.93 and a 200-day moving average of $1.39. The stock has a market cap of $1.03 billion, a PE ratio of -9.55 and a beta of 1.46.

TMC the metals (NASDAQ:TMC) last issued its quarterly earnings results 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 for the quarter. As a group, research analysts anticipate that TMC the metals company Inc. will post -0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TMC the metals news, CFO Craig Shesky sold 353,702 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $1.66, for a total transaction of $587,145.32. Following the sale, the chief financial officer now owns 1,145,717 shares in the company, valued at $1,901,890.22. This represents a 23.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 30.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On TMC the metals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC acquired a new position in TMC the metals during the 1st quarter worth approximately $73,000. Parallel Advisors LLC purchased a new position in TMC the metals in the first quarter valued at $61,000. Tidal Investments LLC raised its stake in TMC the metals by 11.9% in the fourth quarter. Tidal Investments LLC now owns 542,938 shares of the company’s stock valued at $608,000 after buying an additional 57,606 shares in the last quarter. Shay Capital LLC boosted its position in shares of TMC the metals by 965.6% during the 4th quarter. Shay Capital LLC now owns 932,404 shares of the company’s stock worth $1,044,000 after acquiring an additional 844,904 shares in the last quarter. Finally, First Manhattan CO. LLC. increased its holdings in shares of TMC the metals by 115.2% in the 4th quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company’s stock valued at $20,974,000 after acquiring an additional 10,025,000 shares during the last quarter. Hedge funds and other institutional investors own 4.39% of the company’s stock.

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.