Alliance Global Partners Begins Coverage on TMC the metals (NASDAQ:TMC)

Analysts at Alliance Global Partners initiated coverage on shares of TMC the metals (NASDAQ:TMC - Get Free Report) in a note issued to investors on Wednesday, Marketbeat reports. The firm set a "buy" rating and a $3.75 price target on the stock. Alliance Global Partners' price objective suggests a potential upside of 138.85% from the stock's current price.

TMC the metals Price Performance

Shares of TMC stock traded up $0.27 during trading hours on Wednesday, reaching $1.57. 9,477,711 shares of the company's stock were exchanged, compared to its average volume of 3,056,329. The company's 50 day moving average is $0.95 and its two-hundred day moving average is $1.04. The company has a market cap of $509.09 million, a P/E ratio of -5.06 and a beta of 1.49. TMC the metals has a 1 year low of $0.72 and a 1 year high of $2.07.

Insider Buying and Selling at TMC the metals

In other TMC the metals 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 completion of the transaction, the insider now directly owns 998,170 shares of the company's stock, valued at approximately $1,107,968.70. This trade represents a 17.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Andrew Hall sold 66,000 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $0.93, for a total value of $61,380.00. Following the sale, the director now directly owns 182,966 shares in the company, valued at $170,158.38. This trade represents a 26.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 330,622 shares of company stock valued at $342,754. 30.00% of the stock is owned by company insiders.

Institutional Trading of TMC the metals

Large investors have recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in shares of TMC the metals in the 3rd quarter worth about $44,000. Tidal Investments LLC lifted its holdings 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 valued at $514,000 after purchasing an additional 119,335 shares in the last quarter. Finally, Old West Investment Management LLC grew its position in shares of TMC the metals by 100.0% in the third quarter. Old West Investment Management LLC now owns 1,593,230 shares of the company's stock valued at $1,689,000 after purchasing an additional 796,615 shares during the last quarter. 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.