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

TMC the metals company Inc. (NASDAQ:TMC) saw unusually large options trading activity on Wednesday. Traders acquired 5,391 call options on the stock. This represents an increase of 118% compared to the average volume of 2,476 call options.

TMC the metals Price Performance

TMC the metals stock opened at $2.22 on Friday. TMC the metals has a fifty-two week low of $0.72 and a fifty-two week high of $2.55. The firm has a market capitalization of $719.86 million, a PE ratio of -7.16 and a beta of 1.54. The company’s 50-day moving average is $1.39 and its 200-day moving average is $1.12.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other TMC the metals news, CFO Craig Shesky sold 47,523 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $0.85, for a total transaction of $40,394.55. Following the completion of the transaction, the chief financial officer now owns 977,844 shares of the company’s stock, valued at $831,167.40. This represents a 4.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Erika Ilves sold 217,099 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 998,170 shares of the company’s stock, valued at approximately $1,107,968.70. This trade represents a 17.86 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 30.00% of the company’s stock.

Hedge Funds Weigh In On TMC the metals

A number of institutional investors have recently bought and sold shares of TMC. Old West Investment Management LLC lifted its position 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 acquired a new stake in TMC the metals in the third quarter valued at about $44,000. Tidal Investments LLC increased its position in 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. Oppenheimer & Co. Inc. acquired a new position in shares of TMC the metals during the fourth quarter worth $28,000. Finally, SBI Securities Co. Ltd. bought a new position in TMC the metals in the fourth quarter valued at about $94,000. Institutional investors and hedge funds 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.