TMC the metals (NASDAQ:TMC) Sees Large Volume Increase – What’s Next?

TMC the metals company Inc. (NASDAQ:TMC) shares saw unusually-strong trading volume on Tuesday . Approximately 2,371,402 shares changed hands during trading, an increase of 42% from the previous session’s volume of 1,672,317 shares.The stock last traded at $1.67 and had previously closed at $1.72.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TMC shares. Alliance Global Partners assumed coverage on shares of TMC the metals in a report on Wednesday, January 15th. They set a “buy” rating and a $3.75 price objective on the stock. Wedbush reiterated a “neutral” rating and issued a $4.00 price target on shares of TMC the metals in a report on Friday.

TMC the metals Stock Performance

The firm’s 50 day moving average is $1.78 and its 200-day moving average is $1.27. The stock has a market capitalization of $523.68 million, a price-to-earnings ratio of -5.21 and a beta of 1.52.

TMC the metals (NASDAQ:TMC) last posted its earnings results on Thursday, March 27th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The business had revenue of ($20.18) million for the quarter. As a group, sell-side analysts forecast that TMC the metals company Inc. will post -0.22 earnings per share for the current year.

Hedge Funds Weigh In On TMC the metals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. purchased a new position in TMC the metals during the fourth quarter worth about $28,000. Tidal Investments LLC boosted its position 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 purchasing an additional 119,335 shares during the period. Virtu Financial LLC acquired a new stake in TMC the metals in the 3rd quarter valued at approximately $44,000. SBI Securities Co. Ltd. purchased a new stake in TMC the metals in the fourth quarter valued at approximately $94,000. Finally, Independent Advisor Alliance acquired a new position in TMC the metals during the fourth quarter worth $42,000. Institutional investors and hedge funds 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.