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

TMC the metals company Inc. (NASDAQ:TMC) was the target of some unusual options trading activity on Wednesday. Stock investors bought 5,391 call options on the company. This is an increase of approximately 118% compared to the average volume of 2,476 call options.

Insider Buying and Selling at TMC the metals

In related 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 transaction, the insider now owns 998,170 shares in the company, valued at $1,107,968.70. The trade was a 17.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Craig Shesky sold 47,523 shares of the 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 transaction, the chief financial officer now directly owns 977,844 shares in the company, valued at approximately $831,167.40. This represents a 4.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 30.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Gray Wealth Management Inc. increased its position in shares of TMC the metals by 59.7% during the fourth quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company’s stock worth $27,000 after acquiring an additional 8,863 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in TMC the metals during the 4th quarter valued at about $28,000. Raymond James Financial Inc. bought a new stake in TMC the metals during the 4th quarter worth approximately $28,000. Independent Advisor Alliance purchased a new stake in shares of TMC the metals in the fourth quarter worth approximately $42,000. Finally, Virtu Financial LLC bought a new position in shares of TMC the metals in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 4.39% of the company’s stock.

TMC the metals Stock Down 6.3 %

Shares of NASDAQ:TMC opened at $2.22 on Friday. TMC the metals has a twelve month low of $0.72 and a twelve month high of $2.55. The stock’s 50 day moving average is $1.39 and its 200-day moving average is $1.12. The firm has a market capitalization of $719.86 million, a price-to-earnings ratio of -7.16 and a beta of 1.54.

Analysts Set New Price Targets

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

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.