TMC the metals Sees Unusually Large Options Volume (NASDAQ:TMC)

TMC the metals company Inc. (NASDAQ:TMC) saw unusually large options trading on Thursday. Traders purchased 2,700 call options on the stock. This represents an increase of 106% compared to the typical daily volume of 1,310 call options.

TMC the metals Trading Up 17.3 %

TMC traded up $0.23 on Thursday, hitting $1.53. The company had a trading volume of 7,639,524 shares, compared to its average volume of 2,855,297. The firm has a market cap of $494.50 million, a P/E ratio of -4.98 and a beta of 1.49. The company’s fifty day moving average price is $0.95 and its 200 day moving average price is $1.04. TMC the metals has a 1 year low of $0.72 and a 1 year high of $2.07.

Insider Buying and Selling

In other TMC the metals news, Director Andrew Hall sold 66,000 shares of TMC the metals stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $0.93, for a total transaction of $61,380.00. Following the transaction, the director now directly owns 182,966 shares of the company’s stock, valued at $170,158.38. The trade was a 26.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Erika Ilves sold 217,099 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $1.11, for a total transaction of $240,979.89. Following the completion of the sale, the insider now directly owns 998,170 shares of the company’s stock, valued at approximately $1,107,968.70. This trade represents a 17.86 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 330,622 shares of company stock worth $342,754. Insiders own 30.00% of the company’s stock.

Hedge Funds Weigh In On TMC the metals

Large investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new stake in TMC the metals in the 3rd quarter valued at approximately $44,000. Tidal Investments LLC boosted its position in shares of TMC the metals by 32.6% during the third 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 period. Finally, Old West Investment Management LLC grew its stake in shares of 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 buying an additional 796,615 shares in the last quarter. 4.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners started coverage on TMC the metals in a research report on Wednesday. They issued a “buy” rating and a $3.75 price objective for the company.

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.