TMC the metals (NASDAQ:TMC) Trading Down 3.9% – Time to Sell?

TMC the metals company Inc. (NASDAQ:TMC) fell 3.9% on Wednesday . The stock traded as low as $1.52 and last traded at $1.56. 676,653 shares changed hands during trading, a decline of 85% from the average session volume of 4,472,591 shares. The stock had previously closed at $1.62.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners started coverage on shares of TMC the metals in a research note on Wednesday, January 15th. They issued a “buy” rating and a $3.75 target price for the company.

TMC the metals Price Performance

The stock’s 50 day simple moving average is $1.00 and its two-hundred day simple moving average is $1.04. The stock has a market cap of $504.22 million, a P/E ratio of -5.04 and a beta of 1.49.

Insider Activity

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 value of $40,394.55. Following the sale, the chief financial officer now owns 977,844 shares in the company, valued at $831,167.40. This represents a 4.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew Hall sold 66,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $0.93, for a total value of $61,380.00. Following the transaction, the director now directly owns 182,966 shares in the company, valued at $170,158.38. The trade was a 26.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 330,622 shares of company stock worth $342,754 in the last quarter. Corporate insiders own 30.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC raised its holdings 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. Virtu Financial LLC acquired a new stake in TMC the metals during the third quarter worth about $44,000. Finally, Old West Investment Management LLC increased its holdings in TMC the metals by 100.0% in the 3rd quarter. Old West Investment Management LLC now owns 1,593,230 shares of the company’s stock valued at $1,689,000 after buying an additional 796,615 shares during the period. Institutional investors 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.