TMC the metals Target of Unusually Large Options Trading (NASDAQ:TMC)

TMC the metals company Inc. (NASDAQ:TMC) was the target of unusually large options trading activity on Wednesday. Investors bought 53,384 call options on the company. This represents an increase of 125% compared to the average daily volume of 23,720 call options.

TMC the metals Trading Up 17.8%

Shares of NASDAQ TMC opened at $7.40 on Wednesday. The company has a 50 day simple moving average of $6.89 and a two-hundred day simple moving average of $6.12. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of -9.61 and a beta of 1.82. TMC the metals has a 12 month low of $0.72 and a 12 month high of $11.35.

TMC the metals (NASDAQ:TMC) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). Analysts forecast that TMC the metals will post -0.22 EPS for the current year.

Insider Activity

In other TMC the metals news, insider Anthony O’sullivan sold 50,000 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $6.77, for a total transaction of $338,500.00. Following the completion of the sale, the insider directly owned 2,025,667 shares of the company’s stock, valued at approximately $13,713,765.59. This represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Erika Ilves sold 1,591,485 shares of the firm’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $5.77, for a total transaction of $9,182,868.45. Following the completion of the sale, the insider owned 1,145,792 shares in the company, valued at $6,611,219.84. This represents a 58.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,691,485 shares of company stock valued at $9,846,868. Insiders own 27.60% of the company’s stock.

Hedge Funds Weigh In On TMC the metals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP increased its holdings in TMC the metals by 52.0% in the 3rd quarter. Allworth Financial LP now owns 47,521 shares of the company’s stock valued at $303,000 after purchasing an additional 16,266 shares during the last quarter. Cantor Fitzgerald L. P. acquired a new position in TMC the metals during the third quarter worth $318,000. Sunbelt Securities Inc. purchased a new position in shares of TMC the metals during the third quarter worth $34,000. Sender Co & Partners Inc. acquired a new stake in shares of TMC the metals in the third quarter valued at $110,000. Finally, PharVision Advisers LLC acquired a new stake in shares of TMC the metals in the third quarter valued at $102,000. 4.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TMC has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TMC the metals in a research report on Wednesday, October 8th. Zacks Research upgraded TMC the metals from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Finally, HC Wainwright increased their price target on TMC the metals from $7.25 to $7.50 and gave the company a “buy” rating in a research note on Friday, November 14th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.42.

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.