TMC the metals (NASDAQ:TMC) Shares Gap Up – What’s Next?

TMC the metals company Inc. (NASDAQ:TMC)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $1.96, but opened at $2.08. TMC the metals shares last traded at $1.96, with a volume of 1,167,233 shares trading hands.

Analysts Set New Price Targets

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

TMC the metals Trading Up 0.8 %

The firm has a market cap of $640.41 million, a P/E ratio of -6.37 and a beta of 1.54. The stock’s fifty day moving average is $1.42 and its two-hundred day moving average is $1.13.

Insider Buying and Selling

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

Hedge Funds Weigh In On TMC the metals

Large investors have recently bought and sold shares of the stock. Old West Investment Management LLC raised its stake in shares of TMC the metals by 100.0% during the third quarter. Old West Investment Management LLC now owns 1,593,230 shares of the company’s stock valued at $1,689,000 after acquiring an additional 796,615 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of TMC the metals in the 3rd quarter worth approximately $44,000. Tidal Investments LLC increased its stake in shares of TMC the metals by 32.6% during the third quarter. Tidal Investments LLC now owns 485,332 shares of the company’s stock valued at $514,000 after buying an additional 119,335 shares during the period. Oppenheimer & Co. Inc. bought a new position in shares of TMC the metals during the fourth quarter valued at approximately $28,000. Finally, SBI Securities Co. Ltd. purchased a new stake in TMC the metals in the fourth quarter worth $94,000. 4.39% of the stock is 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.