TMC the metals (NASDAQ:TMC) Insider Erika Ilves Sells 1,591,485 Shares

TMC the metals company Inc. (NASDAQ:TMC) insider Erika Ilves sold 1,591,485 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $5.77, for a total transaction of $9,182,868.45. Following the completion of the transaction, the insider owned 1,145,792 shares in the company, valued at $6,611,219.84. This trade represents a 58.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

TMC the metals Stock Performance

Shares of NASDAQ TMC opened at $6.56 on Friday. The company has a market capitalization of $2.67 billion, a P/E ratio of -17.73 and a beta of 1.64. TMC the metals company Inc. has a 52-week low of $0.72 and a 52-week high of $8.63. The company’s 50 day moving average price is $5.74 and its 200-day moving average price is $4.55.

TMC the metals (NASDAQ:TMC) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). Analysts forecast that TMC the metals company Inc. will post -0.22 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TMC. Zacks Research upgraded shares of TMC the metals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 19th. HC Wainwright restated a “buy” rating and issued a $7.25 price target on shares of TMC the metals in a research report on Monday, August 18th. Finally, Wedbush upgraded shares of TMC the metals from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $6.00 to $11.00 in a research report on Wednesday, June 25th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.33.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TMC. Allworth Financial LP lifted 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. Sprott Inc. acquired a new position in shares of TMC the metals during the 1st quarter valued at $26,000. NewEdge Advisors LLC acquired a new position in shares of TMC the metals during the 2nd quarter valued at $28,000. Wolverine Asset Management LLC increased its stake in TMC the metals by 752.6% during the 2nd quarter. Wolverine Asset Management LLC now owns 4,945 shares of the company’s stock valued at $33,000 after purchasing an additional 4,365 shares in the last quarter. Finally, KBC Group NV bought a new stake in TMC the metals during the 2nd quarter valued at $37,000. Institutional investors and hedge funds 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.