TMC the metals (NASDAQ:TMC) Reaches New 12-Month High – Time to Buy?

TMC the metals company Inc. (NASDAQ:TMC)’s stock price reached a new 52-week high on Monday . The company traded as high as $4.19 and last traded at $4.35, with a volume of 2309641 shares trading hands. The stock had previously closed at $3.64.

Analyst Upgrades and Downgrades

Separately, Wedbush reissued a “neutral” rating and set a $6.00 price objective on shares of TMC the metals in a research note on Friday.

TMC the metals Price Performance

The business has a 50 day moving average price of $2.41 and a two-hundred day moving average price of $1.68. The stock has a market cap of $1.53 billion, a PE ratio of -14.15 and a beta of 1.33.

TMC the metals (NASDAQ:TMC) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). On average, sell-side analysts forecast that TMC the metals company Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at TMC the metals

In other news, CFO Craig Shesky sold 353,702 shares of TMC the metals stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $1.66, for a total value of $587,145.32. Following the completion of the transaction, the chief financial officer now owns 1,145,717 shares of the company’s stock, valued at $1,901,890.22. The trade was a 23.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 30.00% of the company’s stock.

Hedge Funds Weigh In On TMC the metals

Several large investors have recently modified their holdings of TMC. Oppenheimer & Co. Inc. purchased a new position in shares of TMC the metals in the 4th quarter worth about $28,000. SBI Securities Co. Ltd. bought a new stake in TMC the metals in the 4th quarter worth about $94,000. Raymond James Financial Inc. bought a new stake in TMC the metals in the 4th quarter worth about $28,000. Independent Advisor Alliance bought a new stake in TMC the metals in the 4th quarter worth about $42,000. Finally, Gray Wealth Management Inc. increased its holdings in TMC the metals by 59.7% in the 4th quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company’s stock worth $27,000 after buying an additional 8,863 shares in the last quarter. Hedge funds and other 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.