TMC the metals (NASDAQ:TMC) Reaches New 12-Month High – Time to Buy?

TMC the metals company Inc. (NASDAQ:TMC) reached a new 52-week high during trading on Monday . The stock traded as high as $4.19 and last traded at $4.35, with a volume of 2309641 shares traded. The stock had previously closed at $3.64.

Analyst Upgrades and Downgrades

Separately, Wedbush reiterated a “neutral” rating and issued a $6.00 price objective on shares of TMC the metals in a report on Friday.

TMC the metals Trading Up 21.0%

The stock has a 50 day simple moving average of $2.41 and a 200-day simple moving average of $1.68. The firm has a market capitalization of $1.53 billion, a P/E ratio of -14.15 and a beta of 1.33.

TMC the metals (NASDAQ:TMC) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). As a group, sell-side analysts expect that TMC the metals company Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Craig Shesky sold 353,702 shares of TMC the metals stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $1.66, for a total transaction of $587,145.32. Following the transaction, the chief financial officer now directly owns 1,145,717 shares of the company’s stock, valued at $1,901,890.22. The trade was a 23.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 30.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TMC. Allworth Financial LP lifted its holdings in TMC the metals by 48.0% in the 1st quarter. Allworth Financial LP now owns 14,796 shares of the company’s stock worth $25,000 after purchasing an additional 4,796 shares in the last quarter. Sprott Inc. purchased a new position in TMC the metals in the 1st quarter worth approximately $26,000. Gray Wealth Management Inc. raised its holdings in shares of TMC the metals by 59.7% during the 4th 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. purchased a new stake in shares of TMC the metals during the 4th quarter worth approximately $28,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of TMC the metals during the 4th quarter worth approximately $28,000. 4.39% of the stock is owned by hedge funds and other institutional investors.

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.