Craig Shesky Sells 353,702 Shares of TMC the metals company Inc. (NASDAQ:TMC) Stock

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) CFO Craig Shesky sold 353,702 shares of the company's stock in a transaction dated 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 $1,901,890.22. The trade was a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

TMC the metals Price Performance

NASDAQ TMC traded down $0.07 on Monday, hitting $1.76. 3,020,822 shares of the company were exchanged, compared to its average volume of 1,690,915. TMC the metals company Inc. has a twelve month low of $0.72 and a twelve month high of $2.55. The firm has a market capitalization of $612.32 million, a P/E ratio of -5.68 and a beta of 1.46. The company's 50 day moving average price is $1.80 and its 200-day moving average price is $1.30.

TMC the metals (NASDAQ:TMC - Get Free Report) last released its quarterly earnings results on Thursday, March 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.01. The firm had revenue of ($20.18) million for the quarter. As a group, equities analysts expect that TMC the metals company Inc. will post -0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports 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 initiated coverage on TMC the metals in a report on Wednesday, January 15th. They issued a "buy" rating and a $3.75 target price on the stock.

Institutional Trading of TMC the metals

Large investors have recently added to or reduced their stakes in the company. Gray Wealth Management Inc. grew its holdings in shares of TMC the metals by 59.7% during the fourth quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company's stock valued at $27,000 after buying an additional 8,863 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in TMC the metals during the 4th quarter worth about $28,000. Raymond James Financial Inc. acquired a new stake in TMC the metals during the 4th quarter worth about $28,000. Independent Advisor Alliance purchased a new position in TMC the metals during the 4th quarter valued at about $42,000. Finally, Virtu Financial LLC acquired a new position in shares of TMC the metals in the 3rd quarter valued at about $44,000. 4.39% of the stock is owned by institutional investors and hedge funds.

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.