TMC the metals (NASDAQ:TMC) Shares Gap Up – Here’s What Happened

TMC the metals company Inc. (NASDAQ:TMC) gapped up before the market opened on Wednesday . The stock had previously closed at $5.42, but opened at $5.76. TMC the metals shares last traded at $5.4990, with a volume of 5,734,280 shares.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TMC. Zacks Research upgraded TMC the metals from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. HC Wainwright increased their price objective on TMC the metals from $7.25 to $7.50 and gave the company a “buy” rating in a research report on Friday, November 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of TMC the metals in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, TMC the metals presently has a consensus rating of “Hold” and a consensus price target of $7.42.

TMC the metals Trading Up 2.3%

The company has a market cap of $2.25 billion, a price-to-earnings ratio of -7.17 and a beta of 1.71. The company has a fifty day moving average price of $6.84 and a two-hundred day moving average price of $5.93.

TMC the metals (NASDAQ:TMC) last issued its earnings results on Thursday, November 13th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). Sell-side analysts anticipate that TMC the metals company Inc. will post -0.22 EPS for the current fiscal year.

Insider Transactions at TMC the metals

In other TMC the metals news, insider Anthony O’sullivan sold 250,000 shares of TMC the metals stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $5.25, for a total transaction of $1,312,500.00. Following the sale, the insider directly owned 1,125,667 shares of the company’s stock, valued at approximately $5,909,751.75. The trade was a 18.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Erika Ilves sold 1,591,485 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $5.77, for a total value of $9,182,868.45. Following the completion of the sale, the insider owned 1,145,792 shares in the company, valued at approximately $6,611,219.84. This represents a 58.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 27.60% of the stock is currently owned by company insiders.

Institutional Trading of TMC the metals

Institutional investors have recently bought and sold shares of the stock. Sprott Inc. acquired a new position in TMC the metals during the first quarter worth $26,000. NewEdge Advisors LLC bought a new stake in shares of TMC the metals in the 2nd quarter worth about $28,000. Wolverine Asset Management LLC increased its position in shares of TMC the metals by 752.6% during the 2nd quarter. Wolverine Asset Management LLC now owns 4,945 shares of the company’s stock worth $33,000 after purchasing an additional 4,365 shares in the last quarter. KBC Group NV acquired a new position in TMC the metals in the second quarter valued at about $37,000. Finally, Foster Dykema Cabot & Partners LLC bought a new position in TMC the metals in the 1st quarter valued at $44,000. Institutional investors and hedge funds 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.