TMC the metals (NASDAQ:TMC) Shares Gap Up – Should You Buy?

TMC the metals company Inc. (NASDAQ:TMC) shares gapped up prior to trading on Wednesday . The stock had previously closed at $5.42, but opened at $5.76. TMC the metals shares last traded at $5.4990, with a volume of 5,734,280 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of TMC the metals in a research report on Wednesday, October 8th. HC Wainwright boosted their price objective on shares of TMC the metals from $7.25 to $7.50 and gave the stock a “buy” rating in a research report on Friday, November 14th. Finally, Zacks Research upgraded TMC the metals from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, TMC the metals presently has an average rating of “Hold” and an average price target of $7.42.

TMC the metals Stock Up 2.3%

The company’s fifty day moving average is $6.84 and its two-hundred day moving average is $5.93. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of -7.17 and a beta of 1.71.

TMC the metals (NASDAQ:TMC) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). On average, equities research analysts expect that TMC the metals company Inc. will post -0.22 EPS for the current year.

Insider Activity

In related news, insider Anthony O’sullivan sold 250,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $5.25, for a total value of $1,312,500.00. Following the sale, the insider directly owned 1,125,667 shares in the company, valued at $5,909,751.75. This trade represents a 18.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Erika Ilves sold 1,591,485 shares of TMC the metals stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $5.77, for a total transaction of $9,182,868.45. Following the transaction, the insider directly owned 1,145,792 shares in the company, valued at $6,611,219.84. The trade was a 58.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 27.60% of the company’s stock.

Institutional Investors Weigh In On TMC the metals

Several hedge funds have recently bought and sold shares of TMC. NewEdge Advisors LLC bought a new position in shares of TMC the metals during the second quarter worth $28,000. Wolverine Asset Management LLC raised its stake in TMC the metals by 752.6% during the 2nd quarter. Wolverine Asset Management LLC now owns 4,945 shares of the company’s stock worth $33,000 after buying an additional 4,365 shares during the period. KBC Group NV bought a new position in TMC the metals during the second quarter worth about $37,000. Quantbot Technologies LP acquired a new position in TMC the metals in the second quarter valued at about $48,000. Finally, Webster Bank N. A. grew its stake in TMC the metals by 226.4% in the third quarter. Webster Bank N. A. now owns 7,929 shares of the company’s stock valued at $51,000 after acquiring an additional 5,500 shares during the period. 4.39% of the stock is currently owned by institutional investors and hedge funds.

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.