Traders Buy Large Volume of Put Options on TMC the metals (NASDAQ:TMC)

TMC the metals company Inc. (NASDAQ:TMC) saw unusually large options trading activity on Friday. Investors purchased 11,817 put options on the stock. This is an increase of approximately 226% compared to the typical daily volume of 3,622 put options.

Insider Transactions at TMC the metals

In other news, insider Erika Ilves sold 217,099 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was 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 directly owns 998,170 shares of the company’s stock, valued at $1,107,968.70. This trade represents a 17.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 30.00% of the company’s stock.

Hedge Funds Weigh In On TMC the metals

A number of large investors have recently made changes to their positions in the business. First Manhattan CO. LLC. increased its stake in shares of TMC the metals by 115.2% in the fourth quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company’s stock worth $20,974,000 after acquiring an additional 10,025,000 shares during the last quarter. Jane Street Group LLC grew its stake in TMC the metals by 7,330.9% in the fourth quarter. Jane Street Group LLC now owns 1,345,812 shares of the company’s stock valued at $1,507,000 after purchasing an additional 1,364,424 shares in the last quarter. Old West Investment Management LLC increased its position in TMC the metals by 168.0% in the 4th quarter. Old West Investment Management LLC now owns 2,135,038 shares of the company’s stock worth $2,391,000 after purchasing an additional 1,338,423 shares during the last quarter. Shay Capital LLC raised its stake in shares of TMC the metals by 965.6% during the 4th quarter. Shay Capital LLC now owns 932,404 shares of the company’s stock worth $1,044,000 after purchasing an additional 844,904 shares in the last quarter. Finally, Tidal Investments LLC lifted its holdings 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 valued at $514,000 after buying an additional 119,335 shares during the last quarter. Institutional investors and hedge funds own 4.39% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wedbush reaffirmed a “neutral” rating and set a $4.00 target price on shares of TMC the metals in a report on Friday. Alliance Global Partners initiated coverage on shares of TMC the metals in a research note on Wednesday, January 15th. They set a “buy” rating and a $3.75 price objective for the company.

TMC the metals Stock Performance

NASDAQ TMC opened at $1.72 on Friday. The firm’s 50 day moving average price is $1.78 and its two-hundred day moving average price is $1.27. TMC the metals has a twelve month low of $0.72 and a twelve month high of $2.55. The stock has a market cap of $557.73 million, a price-to-earnings ratio of -5.55 and a beta of 1.52.

TMC the metals (NASDAQ:TMC) last issued its quarterly earnings results on Thursday, March 27th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The business had revenue of ($20.18) million for the quarter. On average, research analysts forecast that TMC the metals will post -0.22 EPS for the current fiscal 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.