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

TMC the metals company Inc. (NASDAQ:TMC) was the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 6,372 call options on the company. This represents an increase of 163% compared to the typical daily volume of 2,423 call options.

TMC the metals Stock Performance

Shares of NASDAQ:TMC opened at $1.40 on Friday. TMC the metals has a 1 year low of $0.80 and a 1 year high of $3.20. The stock has a market capitalization of $448.71 million, a P/E ratio of -5.00 and a beta of 1.71. The stock has a 50-day simple moving average of $1.49 and a 200-day simple moving average of $1.43.

TMC the metals (NASDAQ:TMC) last released its quarterly earnings results on Monday, May 13th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). Analysts predict that TMC the metals will post -0.2 earnings per share for the current year.

Insider Buying and Selling

In other TMC the metals news, insider Anthony O’sullivan sold 50,000 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $1.48, for a total value of $74,000.00. Following the transaction, the insider now directly owns 746,829 shares in the company, valued at $1,105,306.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 150,000 shares of company stock worth $219,000. Company insiders own 30.00% of the company’s stock.

Hedge Funds Weigh In On TMC the metals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Swiss National Bank purchased a new position in shares of TMC the metals during the 3rd quarter valued at approximately $245,000. Ancora Advisors LLC purchased a new position in shares of TMC the metals during the 3rd quarter valued at approximately $50,000. Hubbell Strickland Wealth Management LLC boosted its stake in shares of TMC the metals by 48.4% during the 1st quarter. Hubbell Strickland Wealth Management LLC now owns 39,559 shares of the company’s stock valued at $57,000 after buying an additional 12,909 shares during the last quarter. Barclays PLC boosted its stake in shares of TMC the metals by 142.0% during the 3rd quarter. Barclays PLC now owns 35,065 shares of the company’s stock valued at $34,000 after buying an additional 20,573 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of TMC the metals during the 1st quarter valued at approximately $45,000. Hedge funds and other institutional investors own 4.39% of the company’s stock.

Analysts Set New Price Targets

Separately, Wedbush reiterated a “neutral” rating and set a $4.00 price objective on shares of TMC the metals in a research report on Thursday, May 16th.

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.