TMC the metals (NASDAQ:TMC) Now Covered by HC Wainwright

HC Wainwright began coverage on shares of TMC the metals (NASDAQ:TMC) in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage issued a buy rating and a $5.50 price objective on the stock.

Separately, Wedbush reiterated a “neutral” rating and issued a $6.00 price target on shares of TMC the metals in a report on Friday, May 16th.

TMC the metals Price Performance

NASDAQ TMC opened at $4.47 on Tuesday. The business has a 50 day simple moving average of $2.51 and a 200 day simple moving average of $1.73. TMC the metals has a one year low of $0.72 and a one year high of $4.64. The stock has a market capitalization of $1.56 billion, a P/E ratio of -14.42 and a beta of 1.33.

TMC the metals (NASDAQ:TMC) last released its earnings results on Wednesday, May 14th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Equities analysts expect that TMC the metals will post -0.22 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Craig Shesky sold 353,702 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $1.66, for a total value of $587,145.32. Following the transaction, the chief financial officer now owns 1,145,717 shares in the company, valued at $1,901,890.22. This trade represents a 23.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 30.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TMC. First Manhattan CO. LLC. lifted its holdings in shares of TMC the metals by 115.2% in the fourth quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company’s stock valued at $20,974,000 after purchasing an additional 10,025,000 shares in the last quarter. Old West Investment Management LLC lifted its holdings in shares of TMC the metals by 100.0% in the first quarter. Old West Investment Management LLC now owns 4,270,076 shares of the company’s stock valued at $7,345,000 after purchasing an additional 2,135,038 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of TMC the metals by 7,330.9% in the fourth quarter. Jane Street Group LLC now owns 1,345,812 shares of the company’s stock valued at $1,507,000 after purchasing an additional 1,364,424 shares in the last quarter. Shay Capital LLC lifted its holdings in shares of TMC the metals by 965.6% in the fourth quarter. Shay Capital LLC now owns 932,404 shares of the company’s stock valued at $1,044,000 after purchasing an additional 844,904 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in shares of TMC the metals by 35.1% in the first quarter. Baird Financial Group Inc. now owns 2,946,027 shares of the company’s stock valued at $5,067,000 after purchasing an additional 766,167 shares in the last quarter. 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.