Insider Selling: TMC the metals (NASDAQ:TMC) Insider Sells 50,000 Shares of Stock

TMC the metals company Inc. (NASDAQ:TMC) insider Anthony O’sullivan sold 50,000 shares of the company’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $6.51, for a total value of $325,500.00. Following the completion of the sale, the insider owned 2,075,667 shares of the company’s stock, valued at approximately $13,512,592.17. The trade was a 2.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Anthony O’sullivan also recently made the following trade(s):

• On Tuesday, December 2nd, Anthony O’sullivan sold 50,000 shares of TMC the metals stock. The shares were sold at an average price of $6.77, for a total value of $338,500.00.

TMC the metals Trading Up 17.8%

TMC the metals stock traded up $1.12 during midday trading on Tuesday, hitting $7.40. The stock had a trading volume of 22,321,120 shares, compared to its average volume of 8,804,794. TMC the metals company Inc. has a 52-week low of $0.72 and a 52-week high of $11.35. The company has a market capitalization of $3.06 billion, a PE ratio of -9.61 and a beta of 1.82. The firm’s fifty day moving average is $6.87 and its two-hundred day moving average is $6.10.

TMC the metals (NASDAQ:TMC) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.08). As a group, equities research analysts predict that TMC the metals company Inc. will post -0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TMC the metals

Several large investors have recently made changes to their positions in the company. XTX Topco Ltd boosted its stake in TMC the metals by 193.5% during the first quarter. XTX Topco Ltd now owns 170,004 shares of the company’s stock valued at $292,000 after buying an additional 112,075 shares during the last quarter. Foster Dykema Cabot & Partners LLC bought a new stake in TMC the metals in the 1st quarter worth approximately $44,000. Independent Advisor Alliance raised its holdings in shares of TMC the metals by 53.1% during the 1st quarter. Independent Advisor Alliance now owns 57,665 shares of the company’s stock worth $99,000 after acquiring an additional 20,000 shares in the last quarter. Sprott Inc. bought a new position in shares of TMC the metals during the 1st quarter valued at approximately $26,000. Finally, Old West Investment Management LLC boosted its position in shares of TMC the metals by 100.0% during the 1st quarter. Old West Investment Management LLC now owns 4,270,076 shares of the company’s stock valued at $7,345,000 after acquiring an additional 2,135,038 shares during the last quarter. 4.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TMC shares. HC Wainwright upped their target price on shares of TMC the metals from $7.25 to $7.50 and gave the stock a “buy” rating in a report on Friday, November 14th. Zacks Research upgraded TMC the metals from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of TMC the metals in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, TMC the metals has an average rating of “Hold” and a consensus price target of $7.42.

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.