TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) was down 6.4% during trading on Wednesday . The stock traded as low as $1.71 and last traded at $1.68. 213,815 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,609,705 shares. The stock had previously closed at $1.79.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the company. Alliance Global Partners assumed coverage on TMC the metals in a research note on Wednesday, January 15th. They set a "buy" rating and a $3.75 price target on the stock. Wedbush restated a "neutral" rating and set a $4.00 target price on shares of TMC the metals in a research report on Friday.
Read Our Latest Report on TMC
TMC the metals Stock Performance
The company has a market cap of $557.73 million, a P/E ratio of -5.55 and a beta of 1.52. The firm's 50-day simple moving average is $1.78 and its 200 day simple moving average is $1.27.
TMC the metals (NASDAQ:TMC - Get Free Report) last issued its earnings results on Thursday, March 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.01. The company 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 earnings per share for the current year.
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 stock was sold at an average price of $1.11, for a total value of $240,979.89. Following the completion of the sale, the insider now directly owns 998,170 shares in the company, valued at $1,107,968.70. This represents a 17.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 30.00% of the company's stock.
Institutional Trading of TMC the metals
A number of large investors have recently bought and sold shares of TMC. Tidal Investments LLC boosted its holdings in shares of TMC the metals by 11.9% in the fourth quarter. Tidal Investments LLC now owns 542,938 shares of the company's stock valued at $608,000 after buying an additional 57,606 shares during the period. Shay Capital LLC boosted its stake in TMC the metals by 965.6% in the 4th quarter. Shay Capital LLC now owns 932,404 shares of the company's stock worth $1,044,000 after purchasing an additional 844,904 shares during the period. First Manhattan CO. LLC. increased its holdings in TMC the metals by 115.2% during the 4th quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company's stock worth $20,974,000 after purchasing an additional 10,025,000 shares in the last quarter. Jane Street Group LLC raised its stake in shares of TMC the metals by 7,330.9% in the 4th quarter. Jane Street Group LLC now owns 1,345,812 shares of the company's stock valued at $1,507,000 after purchasing an additional 1,364,424 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of TMC the metals in the fourth quarter valued at about $65,000. 4.39% of the stock is owned by institutional investors.
About TMC the metals
(
Get Free Report)
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.
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