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

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

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, 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 transaction of $40,394.55. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Erika Ilves sold 217,099 shares of the business’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 sale, the insider now directly owns 998,170 shares in the company, valued at $1,107,968.70. This represents a 17.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 30.00% of the company’s stock.

Institutional Trading of TMC the metals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Gray Wealth Management Inc. grew its stake in TMC the metals by 59.7% in the fourth quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company’s stock valued at $27,000 after purchasing an additional 8,863 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of TMC the metals in the fourth quarter valued at $28,000. Raymond James Financial Inc. acquired a new position in TMC the metals during the fourth quarter worth $28,000. Independent Advisor Alliance bought a new stake in TMC the metals during the fourth quarter worth $42,000. Finally, Virtu Financial LLC acquired a new stake in TMC the metals in the third quarter valued at $44,000. Institutional investors and hedge funds own 4.39% of the company’s stock.

TMC the metals Price Performance

TMC stock traded up $0.23 during midday trading on Wednesday, hitting $2.30. The company’s stock had a trading volume of 3,433,076 shares, compared to its average volume of 3,393,009. The company’s fifty day moving average price is $1.33 and its 200 day moving average price is $1.10. TMC the metals has a twelve month low of $0.72 and a twelve month high of $2.45. The stock has a market capitalization of $744.18 million, a P/E ratio of -7.37 and a beta of 1.54.

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.