Insider Selling: TMC the metals company Inc. (NASDAQ:TMC) Insider Sells $737,783.33 in Stock

TMC the metals company Inc. (NASDAQ:TMC) insider Anthony O’sullivan sold 164,317 shares of the company’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $4.49, for a total value of $737,783.33. Following the completion of the sale, the insider now directly owns 1,125,667 shares of the company’s stock, valued at approximately $5,054,244.83. This trade represents a 12.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

TMC the metals Stock Up 7.4%

Shares of NASDAQ TMC opened at $4.62 on Friday. The business has a 50-day moving average price of $2.67 and a 200 day moving average price of $1.79. TMC the metals company Inc. has a 52-week low of $0.72 and a 52-week high of $4.84. The stock has a market cap of $1.61 billion, a PE ratio of -14.90 and a beta of 1.33.

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. HC Wainwright assumed coverage on TMC the metals in a research report on Tuesday. They issued a “buy” rating and a $5.50 target price for the company. Wedbush reissued a “neutral” rating and issued a $6.00 target price on shares of TMC the metals in a research report on Friday, May 16th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP grew its stake in shares of TMC the metals by 48.0% in the 1st quarter. Allworth Financial LP now owns 14,796 shares of the company’s stock valued at $25,000 after purchasing an additional 4,796 shares during the last quarter. Gray Wealth Management Inc. grew its stake in shares of TMC the metals by 59.7% in the 4th 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 during the last quarter. Sprott Inc. purchased a new position in shares of TMC the metals in the 1st quarter valued at approximately $26,000. Independent Advisor Alliance grew its stake in shares of TMC the metals by 53.1% in the 1st quarter. Independent Advisor Alliance now owns 57,665 shares of the company’s stock valued at $99,000 after purchasing an additional 20,000 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of TMC the metals in the 4th quarter valued at approximately $28,000. 4.39% of the stock is currently owned by hedge funds and other institutional investors.

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.