TMC the metals’ (TMC) “Neutral” Rating Reaffirmed at Wedbush

TMC the metals (NASDAQ:TMC)‘s stock had its “neutral” rating reiterated by equities research analysts at Wedbush in a note issued to investors on Friday,Benzinga reports. They presently have a $4.00 price objective on the stock. Wedbush’s price target would indicate a potential upside of 107.58% from the stock’s current price.

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

TMC the metals Trading Up 13.4 %

Shares of NASDAQ TMC traded up $0.23 during midday trading on Friday, hitting $1.93. The company’s stock had a trading volume of 2,593,874 shares, compared to its average volume of 1,603,580. The firm has a market capitalization of $624.85 million, a price-to-earnings ratio of -6.21 and a beta of 1.52. TMC the metals has a one year low of $0.72 and a one year high of $2.55. The stock has a fifty day moving average price of $1.78 and a 200 day moving average price of $1.26.

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

Insider Buying and Selling at TMC the metals

In other news, insider Erika Ilves sold 217,099 shares of the company’s stock in a transaction dated 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 represents a 17.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 30.00% of the company’s stock.

Institutional Inflows and Outflows

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