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

TMC the metals company Inc. (NASDAQ:TMC) was the recipient of unusually large options trading on Monday. Traders purchased 12,639 put options on the stock. This is an increase of approximately 1,077% compared to the typical daily volume of 1,074 put options.

TMC the metals Price Performance

Shares of TMC stock opened at $0.88 on Wednesday. The stock has a 50-day moving average of $0.91 and a 200-day moving average of $1.08. TMC the metals has a one year low of $0.72 and a one year high of $2.07. The stock has a market cap of $285.06 million, a PE ratio of -2.84 and a beta of 1.62.

Insiders Place Their Bets

In other TMC the metals news, Director Andrew Hall sold 66,000 shares of TMC the metals stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $0.93, for a total transaction of $61,380.00. Following the completion of the sale, the director now owns 182,966 shares of the company’s stock, valued at approximately $170,158.38. The trade was a 26.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Craig Shesky sold 47,523 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $0.85, for a total value of $40,394.55. Following the completion of the transaction, the chief financial officer now directly owns 977,844 shares in the company, valued at approximately $831,167.40. This trade represents a 4.63 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 30.00% of the company’s stock.

Institutional Investors Weigh In On TMC the metals

Several large investors have recently bought and sold shares of TMC. Virtu Financial LLC acquired a new stake in TMC the metals during the 3rd quarter worth approximately $44,000. Tidal Investments LLC lifted its stake in TMC the metals by 32.6% in the 3rd quarter. Tidal Investments LLC now owns 485,332 shares of the company’s stock valued at $514,000 after acquiring an additional 119,335 shares in the last quarter. Finally, Old West Investment Management LLC grew its stake in shares of TMC the metals by 100.0% during the 3rd 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 in the last quarter. Institutional investors own 4.39% of the company’s stock.

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.