TMC the metals (NASDAQ:TMC) Stock Price Up 12.3% – Should You Buy?

TMC the metals company Inc. (NASDAQ:TMC) was up 12.3% during trading on Thursday . The company traded as high as $1.68 and last traded at $1.66. Approximately 1,918,731 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 3,813,074 shares. The stock had previously closed at $1.48.

Analysts Set New Price Targets

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

TMC the metals Trading Down 1.2 %

The firm’s 50 day simple moving average is $1.10 and its 200 day simple moving average is $1.05. The firm has a market cap of $528.54 million, a PE ratio of -5.26 and a beta of 1.49.

Insider Buying and Selling at TMC the metals

In other news, insider Erika Ilves sold 217,099 shares of the company’s 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 sale, the insider now directly owns 998,170 shares in the company, valued at approximately $1,107,968.70. This represents a 17.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the transaction, the chief financial officer now owns 977,844 shares of the company’s stock, valued at approximately $831,167.40. This represents a 4.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 330,622 shares of company stock worth $342,754 in the last quarter. 30.00% of the stock is owned by corporate insiders.

Institutional Trading of TMC the metals

A number of institutional investors have recently bought and sold shares of TMC. Virtu Financial LLC bought a new stake in shares of TMC the metals in the 3rd quarter worth about $44,000. Tidal Investments LLC lifted its stake in TMC the metals by 32.6% in the third quarter. Tidal Investments LLC now owns 485,332 shares of the company’s stock worth $514,000 after purchasing an additional 119,335 shares during the last quarter. Finally, Old West Investment Management LLC boosted its position 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 buying an additional 796,615 shares during the period. 4.39% of the stock is currently owned by institutional investors.

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.