TMC the metals company Inc. (NASDAQ:TMC - Get Free Report)'s stock price traded down 5.1% during trading on Thursday . The stock traded as low as $1.77 and last traded at $1.78. 598,551 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 1,626,968 shares. The stock had previously closed at $1.87.
Analyst Upgrades and Downgrades
Separately, Alliance Global Partners started coverage on shares of TMC the metals in a research report on Wednesday, January 15th. They issued a "buy" rating and a $3.75 price target on the stock.
Check Out Our Latest Report on TMC the metals
TMC the metals Trading Down 2.2 %
The stock's 50 day moving average is $1.74 and its two-hundred day moving average is $1.24. The stock has a market capitalization of $577.19 million, a price-to-earnings ratio of -5.74 and a beta of 1.52.
Insider Buying and Selling
In other news, insider Erika Ilves sold 217,099 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at $1,107,968.70. This trade represents a 17.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 30.00% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On TMC the metals
Several hedge funds have recently added to or reduced their stakes in TMC. Gray Wealth Management Inc. raised its position in shares of TMC the metals by 59.7% in the fourth quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company's stock valued at $27,000 after purchasing an additional 8,863 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of TMC the metals during the fourth quarter worth approximately $28,000. Raymond James Financial Inc. acquired a new position in shares of TMC the metals in the fourth quarter valued at approximately $28,000. Independent Advisor Alliance bought a new position in shares of TMC the metals during the fourth quarter worth approximately $42,000. Finally, Virtu Financial LLC acquired a new stake in TMC the metals during the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 4.39% of the company's stock.
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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