TMC the metals (NASDAQ:TMC) Stock Price Down 3.9% – Time to Sell?

TMC the metals company Inc. (NASDAQ:TMC)’s stock price traded down 3.9% during mid-day trading on Wednesday . The stock traded as low as $1.52 and last traded at $1.56. 676,653 shares were traded during mid-day trading, a decline of 85% from the average session volume of 4,472,591 shares. The stock had previously closed at $1.62.

Analyst Ratings Changes

Separately, Alliance Global Partners initiated coverage on 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 Price Performance

The company’s 50-day moving average price is $1.02 and its two-hundred day moving average price is $1.05. The company has a market capitalization of $509.09 million, a P/E ratio of -5.06 and a beta of 1.49.

Insider Buying and Selling at TMC the metals

In other TMC the metals news, insider Erika Ilves sold 217,099 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $1.11, for a total transaction of $240,979.89. Following the transaction, the insider now owns 998,170 shares in the company, valued at $1,107,968.70. This trade represents a 17.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Craig Shesky sold 47,523 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were 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 approximately $831,167.40. The trade was a 4.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 330,622 shares of company stock valued at $342,754 in the last three months. 30.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TMC the metals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Old West Investment Management LLC raised its position in 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 purchasing an additional 796,615 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of TMC the metals by 32.6% during the 3rd quarter. Tidal Investments LLC now owns 485,332 shares of the company’s stock worth $514,000 after buying an additional 119,335 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of TMC the metals during the 3rd quarter worth $44,000. 4.39% of the stock is 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.