TMC the metals (NASDAQ:TMC) Sees Unusually-High Trading Volume - Still a Buy?

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 2,371,402 shares were traded during trading, an increase of 42% from the previous session's volume of 1,672,317 shares.The stock last traded at $1.67 and had previously closed at $1.72.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TMC shares. Wedbush reissued a "neutral" rating and set a $4.00 target price on shares of TMC the metals in a research report on Friday, March 28th. Alliance Global Partners started coverage on shares of TMC the metals in a research note on Wednesday, January 15th. They issued a "buy" rating and a $3.75 target price on the stock.

TMC the metals Trading Down 6.2 %

The stock has a market capitalization of $636.68 million, a price-to-earnings ratio of -5.90 and a beta of 1.46. The firm has a 50-day moving average of $1.80 and a 200 day moving average of $1.30.

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

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Insider Activity

In other news, CFO Craig Shesky sold 353,702 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $1.66, for a total transaction of $587,145.32. Following the completion of the transaction, the chief financial officer now directly owns 1,145,717 shares in the company, valued at approximately $1,901,890.22. This represents a 23.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 30.00% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC raised its stake in shares of TMC the metals by 11.9% in the 4th quarter. Tidal Investments LLC now owns 542,938 shares of the company's stock valued at $608,000 after purchasing an additional 57,606 shares in the last quarter. Shay Capital LLC raised its stake in TMC the metals by 965.6% during the fourth quarter. Shay Capital LLC now owns 932,404 shares of the company's stock valued at $1,044,000 after buying an additional 844,904 shares in the last quarter. First Manhattan CO. LLC. grew its position 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 worth $20,974,000 after acquiring an additional 10,025,000 shares in the last quarter. Jane Street Group LLC raised its position in shares of TMC the metals by 7,330.9% during the 4th quarter. Jane Street Group LLC now owns 1,345,812 shares of the company's stock valued at $1,507,000 after acquiring an additional 1,364,424 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in TMC the metals in the fourth quarter worth $65,000. 4.39% of the stock is currently owned by institutional investors.

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.