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

TMC the metals company Inc. (NASDAQ:TMC) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $2.08 and last traded at $2.07, with a volume of 3724612 shares trading hands. The stock had previously closed at $1.88.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners initiated coverage on shares of TMC the metals in a research report on Wednesday, January 15th. They set a “buy” rating and a $3.75 price target on the stock.

TMC the metals Stock Up 10.1 %

The business has a fifty day moving average of $1.33 and a two-hundred day moving average of $1.10.

Insider Activity

In related news, CFO Craig Shesky sold 47,523 shares of TMC the metals stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $0.85, for a total value of $40,394.55. Following the sale, the chief financial officer now directly owns 977,844 shares in the company, valued at approximately $831,167.40. The trade was a 4.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Erika Ilves sold 217,099 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $1.11, for a total transaction of $240,979.89. Following the completion of the sale, the insider now owns 998,170 shares of the company’s stock, valued at $1,107,968.70. This trade represents a 17.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 30.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TMC. Gray Wealth Management Inc. grew its holdings in shares of TMC the metals by 59.7% in the fourth 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 period. Oppenheimer & Co. Inc. acquired a new stake in shares of TMC the metals during the 4th quarter worth approximately $28,000. Raymond James Financial Inc. purchased a new stake in shares of TMC the metals during the 4th quarter valued at approximately $28,000. Independent Advisor Alliance acquired a new position in TMC the metals in the fourth quarter valued at approximately $42,000. Finally, Virtu Financial LLC purchased a new position in TMC the metals in the third quarter worth approximately $44,000. 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.