TMC the metals (NASDAQ:TMC) Shares Gap Down – What’s Next?

by · The Markets Daily

TMC the metals company Inc. (NASDAQ:TMC – Get Free Report)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $7.72, but opened at $7.43. TMC the metals shares last traded at $7.7360, with a volume of 2,290,223 shares.

Analysts Set New Price Targets

TMC has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of TMC the metals from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. HC Wainwright raised their price objective on shares of TMC the metals from $7.25 to $7.50 and gave the company a “buy” rating in a research report on Friday, November 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TMC the metals in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.42.

Get Our Latest Stock Report on TMC

TMC the metals Stock Up 0.2%

The company has a fifty day moving average price of $6.93 and a 200-day moving average price of $6.13. The stock has a market capitalization of $3.20 billion, a P/E ratio of -10.10 and a beta of 1.82.

TMC the metals (NASDAQ:TMC – Get Free Report) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). As a group, research analysts expect that TMC the metals company Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other TMC the metals news, insider Erika Ilves sold 1,591,485 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $5.77, for a total transaction of $9,182,868.45. Following the completion of the transaction, the insider owned 1,145,792 shares in the company, valued at $6,611,219.84. This trade represents a 58.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Anthony O’sullivan sold 50,000 shares of TMC the metals stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $6.77, for a total transaction of $338,500.00. Following the completion of the transaction, the insider directly owned 2,025,667 shares of the company’s stock, valued at $13,713,765.59. The trade was a 2.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,691,485 shares of company stock valued at $9,846,868 over the last quarter. Corporate insiders own 27.60% of the company’s stock.

Institutional Investors Weigh In On TMC the metals

Several institutional investors have recently made changes to their positions in the company. Allworth Financial LP grew its holdings in TMC the metals by 52.0% during the 3rd quarter. Allworth Financial LP now owns 47,521 shares of the company’s stock valued at $303,000 after purchasing an additional 16,266 shares during the last quarter. Cantor Fitzgerald L. P. bought a new position in shares of TMC the metals during the third quarter valued at approximately $318,000. Sunbelt Securities Inc. purchased a new stake in shares of TMC the metals in the third quarter worth approximately $34,000. Sender Co & Partners Inc. purchased a new stake in shares of TMC the metals in the third quarter worth approximately $110,000. Finally, PharVision Advisers LLC bought a new stake in shares of TMC the metals during the 3rd quarter worth approximately $102,000. Institutional investors 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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