Stock Traders Purchase Large Volume of TMC the metals Call Options (NASDAQ:TMC)

TMC the metals company Inc. (NASDAQ:TMC) was the target of some unusual options trading on Monday. Stock investors acquired 37,008 call options on the company. This represents an increase of 764% compared to the average daily volume of 4,283 call options.

TMC the metals Price Performance

Shares of TMC traded up $0.56 during trading hours on Monday, reaching $2.51. 12,611,867 shares of the company’s stock traded hands, compared to its average volume of 1,746,997. TMC the metals has a twelve month low of $0.72 and a twelve month high of $2.55. The business’s fifty day simple moving average is $1.83 and its two-hundred day simple moving average is $1.33. The firm has a market capitalization of $872.11 million, a price-to-earnings ratio of -8.09 and a beta of 1.46.

TMC the metals (NASDAQ:TMC) last released its quarterly earnings results on Thursday, March 27th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. The company had revenue of ($20.18) million for the quarter. On average, equities research analysts expect that TMC the metals will post -0.22 EPS for the current year.

Insider Activity

In related news, CFO Craig Shesky sold 353,702 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $1.66, for a total value of $587,145.32. Following the sale, the chief financial officer now owns 1,145,717 shares of the company’s stock, valued at approximately $1,901,890.22. This trade represents a 23.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 30.00% of the company’s stock.

Institutional Investors Weigh In On TMC the metals

A number of institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC bought a new stake in TMC the metals in the first quarter worth about $61,000. Tidal Investments LLC raised its position in shares of TMC the metals by 11.9% during the fourth quarter. Tidal Investments LLC now owns 542,938 shares of the company’s stock worth $608,000 after purchasing an additional 57,606 shares during the period. Shay Capital LLC lifted its holdings in shares of TMC the metals by 965.6% during the fourth quarter. Shay Capital LLC now owns 932,404 shares of the company’s stock valued at $1,044,000 after purchasing an additional 844,904 shares during the last quarter. First Manhattan CO. LLC. boosted its position in shares of TMC the metals by 115.2% in the 4th quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company’s stock valued at $20,974,000 after purchasing an additional 10,025,000 shares during the period. Finally, Jane Street Group LLC increased its stake in TMC the metals by 7,330.9% in the 4th quarter. Jane Street Group LLC now owns 1,345,812 shares of the company’s stock worth $1,507,000 after purchasing an additional 1,364,424 shares in the last quarter. 4.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Alliance Global Partners started coverage on shares of TMC the metals in a research note on Wednesday, January 15th. They set a “buy” rating and a $3.75 target price for the company. Wedbush reaffirmed a “neutral” rating and set a $4.00 price target on shares of TMC the metals in a report on Friday, March 28th.

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.