TMC the metals (NASDAQ:TMC) Receives Neutral Rating from Wedbush

Wedbush restated their neutral rating on shares of TMC the metals (NASDAQ:TMC) in a report issued on Friday morning,Benzinga reports. Wedbush currently has a $4.00 target price on the stock.

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

TMC the metals Stock Performance

TMC stock opened at $1.72 on Friday. The firm has a market cap of $557.73 million, a P/E ratio of -5.55 and a beta of 1.52. The firm’s fifty day moving average is $1.78 and its 200 day moving average is $1.26. TMC the metals has a 52 week low of $0.72 and a 52 week high of $2.55.

TMC the metals (NASDAQ:TMC) last released its quarterly earnings data on Thursday, March 27th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01. The company had revenue of ($20.18) million during the quarter. As a group, analysts forecast that TMC the metals will post -0.22 EPS for the current year.

Insider Buying and Selling at TMC the metals

In other news, insider Erika Ilves sold 217,099 shares of the business’s stock in a transaction that occurred 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 directly owns 998,170 shares of the company’s stock, valued at approximately $1,107,968.70. The trade was a 17.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 30.00% of the company’s stock.

Institutional Trading of TMC the metals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC raised its stake in TMC the metals by 11.9% in the fourth quarter. Tidal Investments LLC now owns 542,938 shares of the company’s stock worth $608,000 after buying an additional 57,606 shares in the last quarter. Shay Capital LLC raised its position 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 acquiring an additional 844,904 shares in the last quarter. First Manhattan CO. LLC. raised its position in shares of TMC the metals by 115.2% in the 4th quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company’s stock worth $20,974,000 after acquiring an additional 10,025,000 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of TMC the metals by 7,330.9% in the 4th quarter. Jane Street Group LLC now owns 1,345,812 shares of the company’s stock valued at $1,507,000 after purchasing an additional 1,364,424 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of TMC the metals during the fourth quarter valued at approximately $65,000. Hedge funds and other institutional investors 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.