TMC the metals (NASDAQ:TMC) Trading Down 4.6% - What's Next?

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) shares were down 4.6% on Wednesday . The company traded as low as $0.75 and last traded at $0.77. Approximately 3,768,736 shares changed hands during mid-day trading, an increase of 183% from the average daily volume of 1,331,716 shares. The stock had previously closed at $0.80.

TMC the metals Trading Down 4.7 %

The stock has a market capitalization of $236.71 million, a P/E ratio of -2.35 and a beta of 1.62. The stock's 50-day moving average price is $0.92 and its two-hundred day moving average price is $1.09.

Insider Buying and Selling at TMC the metals

In other TMC the metals news, Director Andrew Hall sold 66,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $0.93, for a total transaction of $61,380.00. Following the sale, the director now owns 182,966 shares in the company, valued at $170,158.38. This represents a 26.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Craig Shesky sold 47,523 shares of the firm's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $0.85, for a total value of $40,394.55. Following the completion of the transaction, the chief financial officer now directly owns 977,844 shares of the company's stock, valued at $831,167.40. The trade was a 4.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 30.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TMC. Old West Investment Management LLC lifted its stake in TMC the metals by 100.0% in the 3rd quarter. Old West Investment Management LLC now owns 1,593,230 shares of the company's stock worth $1,689,000 after purchasing an additional 796,615 shares in the last quarter. Tidal Investments LLC raised its position in shares of TMC the metals by 32.6% in the third quarter. Tidal Investments LLC now owns 485,332 shares of the company's stock worth $514,000 after buying an additional 119,335 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of TMC the metals in the third quarter worth $44,000. Institutional investors own 4.39% of the company's stock.

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.