TMC the metals Sees Unusually High Options Volume (NASDAQ:TMC)

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) was the target of some unusual options trading activity on Friday. Stock traders purchased 11,817 put options on the company. This is an increase of 226% compared to the average volume of 3,622 put options.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TMC shares. Wedbush restated a "neutral" rating and set a $4.00 price target on shares of TMC the metals in a research note on Friday. Alliance Global Partners initiated coverage on shares of TMC the metals in a research note on Wednesday, January 15th. They issued a "buy" rating and a $3.75 price target for the company.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Oppenheimer & Co. Inc. acquired a new stake in TMC the metals in the fourth quarter valued at about $28,000. Tidal Investments LLC increased 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 purchasing an additional 119,335 shares in the last quarter. Virtu Financial LLC purchased a new position in TMC the metals during the third quarter worth $44,000. SBI Securities Co. Ltd. acquired a new position in TMC the metals in the 4th quarter valued at about $94,000. Finally, Independent Advisor Alliance purchased a new position in shares of TMC the metals during the fourth quarter valued at approximately $42,000. 4.39% of the stock is currently owned by hedge funds and other institutional investors.

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TMC the metals Trading Down 4.9 %

Shares of NASDAQ TMC traded down $0.09 during mid-day trading on Tuesday, reaching $1.64. The company had a trading volume of 5,702,650 shares, compared to its average volume of 1,683,117. The firm has a 50 day simple moving average of $1.78 and a two-hundred day simple moving average of $1.27. TMC the metals has a 52-week low of $0.72 and a 52-week high of $2.55. The stock has a market cap of $530.17 million, a P/E ratio of -5.27 and a beta of 1.52.

TMC the metals (NASDAQ:TMC - Get Free Report) last announced its earnings results on Thursday, March 27th. The company reported ($0.05) EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.01. The business had revenue of ($20.18) million during the quarter. On average, equities analysts expect that TMC the metals will post -0.22 EPS for the current year.

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.