TMC the metals (NASDAQ:TMC) Sees Unusually-High Trading Volume - Time to Buy?

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) saw an uptick in trading volume on Wednesday . 4,458,304 shares changed hands during trading, an increase of 125% from the previous session's volume of 1,979,530 shares.The stock last traded at $2.98 and had previously closed at $2.87.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TMC shares. Alliance Global Partners assumed coverage on TMC the metals in a research note on Wednesday, January 15th. They issued a "buy" rating and a $3.75 price objective for the company. Wedbush reiterated a "neutral" rating and issued a $4.00 price objective on shares of TMC the metals in a research report on Friday, March 28th.

TMC the metals Stock Performance

The company has a 50-day moving average of $1.93 and a 200-day moving average of $1.39. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -9.55 and a beta of 1.46.

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

Insider Activity

In related news, CFO Craig Shesky sold 353,702 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $1.66, for a total value of $587,145.32. Following the transaction, the chief financial officer now owns 1,145,717 shares in the company, valued at approximately $1,901,890.22. This trade represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 30.00% of the company's stock.

Institutional Investors Weigh In On TMC the metals

Institutional investors have recently made changes to their positions in the company. Gray Wealth Management Inc. raised 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 worth $27,000 after purchasing an additional 8,863 shares during the period. Raymond James Financial Inc. bought a new position in shares of TMC the metals during the fourth quarter valued at approximately $28,000. Oppenheimer & Co. Inc. bought a new stake in shares of TMC the metals in the 4th quarter worth approximately $28,000. Independent Advisor Alliance bought a new position in TMC the metals during the 4th quarter worth $42,000. Finally, Virtu Financial LLC bought a new stake in TMC the metals in the third quarter valued at $44,000. 4.39% of the stock is currently owned by institutional investors.

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.