TMC the metals company Inc. (NASDAQ:TMC) Director Brendan May Sells 44,204 Shares of Stock

TMC the metals company Inc. (NASDAQ:TMC) Director Brendan May sold 44,204 shares of the company’s stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $7.38, for a total value of $326,225.52. Following the sale, the director now owns 197,586 shares of the company’s stock, valued at $1,458,184.68. This trade represents a 18.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Brendan May also recently made the following trade(s):

• On Wednesday, June 25th, Brendan May sold 25,000 shares of TMC the metals stock. The stock was sold at an average price of $7.80, for a total transaction of $195,000.00.

TMC the metals Trading Down 5.2%

TMC stock opened at $6.81 on Friday. The stock has a market cap of $2.47 billion, a P/E ratio of -29.61 and a beta of 1.46. The stock’s fifty day simple moving average is $4.29 and its two-hundred day simple moving average is $2.54. TMC the metals company Inc. has a 1-year low of $0.72 and a 1-year high of $8.12.

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

Institutional Trading of TMC the metals

Several hedge funds have recently added to or reduced their stakes in TMC. Allworth Financial LP grew its position in shares of TMC the metals by 48.0% during the 1st quarter. Allworth Financial LP now owns 14,796 shares of the company’s stock valued at $25,000 after acquiring an additional 4,796 shares during the period. Gray Wealth Management Inc. lifted its stake in TMC the metals by 59.7% in the fourth quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company’s stock valued at $27,000 after purchasing an additional 8,863 shares during the last quarter. Sprott Inc. bought a new position in TMC the metals during the first quarter valued at $26,000. Independent Advisor Alliance increased its position in TMC the metals by 53.1% in the first quarter. Independent Advisor Alliance now owns 57,665 shares of the company’s stock worth $99,000 after buying an additional 20,000 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of TMC the metals in the fourth quarter valued at $28,000. Institutional investors own 4.39% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on TMC. Wedbush raised shares of TMC the metals from a “neutral” rating to an “outperform” rating and raised their price target for the company from $6.00 to $11.00 in a research report on Wednesday. HC Wainwright initiated coverage on shares of TMC the metals in a research note on Tuesday, May 20th. They issued a “buy” rating and a $5.50 price objective 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.