Brendan May Sells 20,768 Shares of TMC the metals (NASDAQ:TMC) Stock

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

TMC the metals Price Performance

TMC stock traded up $0.13 during midday trading on Tuesday, reaching $6.49. 5,725,957 shares of the company were exchanged, compared to its average volume of 7,046,983. The business has a 50-day moving average price of $5.16 and a two-hundred day moving average price of $6.12. TMC the metals company Inc. has a one year low of $3.93 and a one year high of $11.35. 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 released its quarterly earnings data on Thursday, May 14th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. As a group, analysts anticipate that TMC the metals company Inc. will post -0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TMC the metals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. bought a new stake in shares of TMC the metals during the 1st quarter valued at $211,000. Geode Capital Management LLC increased its position in shares of TMC the metals by 79.6% in the second quarter. Geode Capital Management LLC now owns 330,823 shares of the company’s stock worth $2,183,000 after purchasing an additional 146,650 shares during the period. Creative Planning acquired a new position in TMC the metals in the second quarter valued at about $76,000. Cetera Investment Advisers acquired a new position in TMC the metals in the second quarter valued at about $168,000. Finally, Quantbot Technologies LP bought a new stake in TMC the metals during the second quarter worth about $48,000. 4.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TMC has been the subject of several recent research reports. Wall Street Zen upgraded TMC the metals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of TMC the metals in a research report on Monday, April 20th. HC Wainwright reissued a “buy” rating and set a $11.75 target price on shares of TMC the metals in a report on Tuesday. Finally, Wedbush lifted their target price on TMC the metals from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, TMC the metals presently has an average rating of “Hold” and an average target price 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.