TMC the metals (NASDAQ:TMC) Stock Price Up 7.7% - Should You Buy?

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report)'s stock price was up 7.7% during trading on Tuesday . The stock traded as high as $2.03 and last traded at $2.03. Approximately 2,370,718 shares traded hands during trading, a decline of 29% from the average daily volume of 3,325,377 shares. The stock had previously closed at $1.88.

Analyst Ratings Changes

Separately, Alliance Global Partners started coverage on shares of TMC the metals in a report on Wednesday, January 15th. They set a "buy" rating and a $3.75 price target on the stock.

TMC the metals Trading Down 6.3 %

The company has a market capitalization of $719.86 million, a PE ratio of -7.16 and a beta of 1.54. The firm's 50-day simple moving average is $1.39 and its 200-day simple moving average is $1.12.

Insider Buying and Selling at TMC the metals

In other news, CFO Craig Shesky sold 47,523 shares of the company's stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $0.85, for a total value of $40,394.55. Following the completion of the sale, the chief financial officer now owns 977,844 shares of the company's stock, valued at approximately $831,167.40. This represents a 4.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Erika Ilves sold 217,099 shares of the company'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 transaction 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. The trade was a 17.86 % decrease in their position. The disclosure for this sale can be found here. 30.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TMC the metals

Several hedge funds have recently modified their holdings of the business. Old West Investment Management LLC raised its stake in shares of TMC the metals by 100.0% during the 3rd quarter. Old West Investment Management LLC now owns 1,593,230 shares of the company's stock worth $1,689,000 after acquiring an additional 796,615 shares in the last quarter. Virtu Financial LLC bought a new position in shares of TMC the metals during the 3rd quarter worth approximately $44,000. Tidal Investments LLC raised its stake in shares of TMC the metals by 32.6% during the 3rd quarter. Tidal Investments LLC now owns 485,332 shares of the company's stock worth $514,000 after acquiring an additional 119,335 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of TMC the metals during the 4th quarter worth approximately $28,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of TMC the metals during the 4th quarter worth approximately $94,000. Hedge funds and other institutional investors own 4.39% of the company's stock.

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.

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