TMC the metals (NASDAQ:TMC) Earns “Neutral” Rating from Wedbush

TMC the metals (NASDAQ:TMC)‘s stock had its “neutral” rating reaffirmed by analysts at Wedbush in a report released on Friday,Benzinga reports. They currently have a $4.00 price objective on the stock. Wedbush’s target price indicates a potential upside of 107.58% from the stock’s previous close.

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

TMC the metals Trading Up 13.4 %

TMC traded up $0.23 on Friday, reaching $1.93. The stock had a trading volume of 2,593,874 shares, compared to its average volume of 1,603,580. The company has a market capitalization of $624.85 million, a price-to-earnings ratio of -6.21 and a beta of 1.52. TMC the metals has a fifty-two week low of $0.72 and a fifty-two week high of $2.55. The firm has a 50-day moving average of $1.78 and a 200-day moving average of $1.26.

TMC the metals (NASDAQ:TMC) last released its quarterly earnings data on Thursday, March 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. The firm had revenue of ($20.18) million during the quarter. Sell-side analysts anticipate that TMC the metals will post -0.22 EPS for the current fiscal year.

Insider Activity at TMC the metals

In other TMC the metals news, insider Erika Ilves sold 217,099 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 998,170 shares in the company, valued at approximately $1,107,968.70. The trade was a 17.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 30.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TMC the metals

Institutional investors and hedge funds have recently made changes to their positions in the business. First Manhattan CO. LLC. increased its holdings in TMC the metals by 115.2% during the 4th quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company’s stock worth $20,974,000 after purchasing an additional 10,025,000 shares in the last quarter. Old West Investment Management LLC increased its stake in TMC the metals by 168.0% in the 4th quarter. Old West Investment Management LLC now owns 2,135,038 shares of the company’s stock valued at $2,391,000 after buying an additional 1,338,423 shares during the last quarter. Jane Street Group LLC lifted its position in shares of TMC the metals by 7,330.9% during the 4th quarter. Jane Street Group LLC now owns 1,345,812 shares of the company’s stock worth $1,507,000 after buying an additional 1,364,424 shares in the last quarter. Shay Capital LLC boosted its stake in shares of TMC the metals by 965.6% in the 4th quarter. Shay Capital LLC now owns 932,404 shares of the company’s stock worth $1,044,000 after buying an additional 844,904 shares during the last quarter. Finally, Tidal Investments LLC lifted its holdings in TMC the metals by 11.9% during the fourth quarter. Tidal Investments LLC now owns 542,938 shares of the company’s stock worth $608,000 after acquiring an additional 57,606 shares during the period. Institutional investors and hedge funds 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.