TMC the metals Target of Unusually Large Options Trading (NASDAQ:TMC)

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) was the target of some unusual options trading on Wednesday. Investors bought 5,391 call options on the company. This is an increase of approximately 118% compared to the average daily volume of 2,476 call options.

TMC the metals Trading Down 11.7 %

TMC stock traded down $0.26 during trading on Friday, reaching $1.96. 3,708,946 shares of the stock were exchanged, compared to its average volume of 2,838,960. The firm has a market capitalization of $635.55 million, a price-to-earnings ratio of -6.32 and a beta of 1.54. The business has a 50 day moving average price of $1.42 and a 200-day moving average price of $1.13. TMC the metals has a 1 year low of $0.72 and a 1 year high of $2.55.

Insider Buying and Selling at TMC the metals

In related news, CFO Craig Shesky sold 47,523 shares of the company's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $0.85, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Erika Ilves sold 217,099 shares of the stock in a transaction dated Monday, December 30th. The shares were 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 owns 998,170 shares of the company's stock, valued at approximately $1,107,968.70. The trade was a 17.86 % decrease in their position. The disclosure for this sale can be found here. Insiders own 30.00% of the company's stock.

Institutional Trading of TMC the metals

Several institutional investors have recently made changes to their positions in the company. Old West Investment Management LLC increased its stake in TMC the metals by 100.0% during the third 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 during the last quarter. Virtu Financial LLC purchased a new position in shares of TMC the metals during the 3rd quarter worth $44,000. Tidal Investments LLC increased its position 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 purchasing an additional 119,335 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in TMC the metals in the 4th quarter valued at about $28,000. Finally, SBI Securities Co. Ltd. purchased a new position in TMC the metals during the fourth quarter worth about $94,000. Hedge funds and other institutional investors own 4.39% of the company's stock.

Analyst Ratings Changes

Separately, Alliance Global Partners initiated coverage on TMC the metals in a report on Wednesday, January 15th. They issued a "buy" rating and a $3.75 target price for the company.

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.