TMC the metals (NASDAQ:TMC) Director Sells $133,330.56 in Stock

TMC the metals company Inc. (NASDAQ:TMC) Director Brendan May sold 20,768 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $6.42, for a total transaction of $133,330.56. Following the sale, the director directly owned 193,346 shares of the company’s stock, valued at $1,241,281.32. This represents a 9.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

TMC the metals Price Performance

TMC traded up $0.13 on Tuesday, hitting $6.49. 5,725,957 shares of the stock were exchanged, compared to its average volume of 7,046,983. TMC the metals company Inc. has a 12 month low of $3.93 and a 12 month high of $11.35. The business has a 50-day moving average of $5.16 and a two-hundred day moving average of $6.12. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of -8.22 and a beta of 1.99.

TMC the metals (NASDAQ:TMC) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. Equities research analysts expect that TMC the metals company Inc. will post -0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TMC the metals

A number of hedge funds and other institutional investors have recently bought and sold shares of TMC. Bank of America Corp DE increased its holdings in TMC the metals by 83.0% in the 1st quarter. Bank of America Corp DE now owns 150,600 shares of the company’s stock worth $703,000 after purchasing an additional 68,324 shares in the last quarter. Arkadios Wealth Advisors bought a new stake in shares of TMC the metals during the first quarter worth about $66,000. Amundi increased its stake in shares of TMC the metals by 13.3% in the first quarter. Amundi now owns 44,186 shares of the company’s stock valued at $206,000 after buying an additional 5,202 shares during the period. California State Teachers Retirement System raised its holdings in TMC the metals by 38.4% in the 1st quarter. California State Teachers Retirement System now owns 264,499 shares of the company’s stock valued at $1,235,000 after buying an additional 73,365 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in TMC the metals in the 1st quarter valued at approximately $3,409,000. Institutional investors own 4.39% of the company’s stock.

Analyst Ratings Changes

TMC has been the topic of a number of recent analyst reports. Wall Street Zen upgraded TMC the metals from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Wedbush lifted their target price on TMC the metals from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of TMC the metals in a research report on Monday, April 20th. Finally, HC Wainwright reiterated a “buy” rating and issued a $11.75 target price on shares of TMC the metals in a research report on Tuesday. Two 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.88.

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. Its products are used in electric vehicles (EV), renewable energy storage markets, EV wiring, energy transmission, manganese alloy production required for steel production, and other applications.