TMC the metals (NASDAQ:TMC) Sees Strong Trading Volume – Should You Buy?

TMC the metals company Inc. (NASDAQ:TMC) saw unusually-high trading volume on Thursday . Approximately 7,960,644 shares changed hands during trading, an increase of 174% from the previous session’s volume of 2,910,017 shares.The stock last traded at $1.55 and had previously closed at $1.30.

Analyst Ratings Changes

Separately, Alliance Global Partners initiated coverage on shares of TMC the metals in a research report on Wednesday. They set a “buy” rating and a $3.75 price target on the stock.

TMC the metals Stock Up 20.8 %

The firm has a market cap of $509.09 million, a PE ratio of -5.06 and a beta of 1.49. The business has a 50-day moving average price of $0.95 and a two-hundred day moving average price of $1.04.

Insiders Place Their Bets

In related news, CFO Craig Shesky sold 47,523 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $0.85, for a total value of $40,394.55. Following the transaction, the chief financial officer now owns 977,844 shares of the company’s stock, valued at $831,167.40. This represents a 4.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Andrew Hall sold 66,000 shares of TMC the metals stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $0.93, for a total value of $61,380.00. Following the sale, the director now directly owns 182,966 shares of the company’s stock, valued at $170,158.38. This trade represents a 26.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 330,622 shares of company stock worth $342,754 in the last quarter. 30.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Old West Investment Management LLC boosted its holdings in TMC the metals by 100.0% in the third quarter. Old West Investment Management LLC now owns 1,593,230 shares of the company’s stock valued at $1,689,000 after purchasing an additional 796,615 shares in the last quarter. Tidal Investments LLC lifted its position in shares of TMC the metals by 32.6% during the 3rd quarter. Tidal Investments LLC now owns 485,332 shares of the company’s stock worth $514,000 after buying an additional 119,335 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of TMC the metals in the 3rd quarter valued at $44,000. 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.