Stock Traders Buy Large Volume of Put Options on TMC the metals (NASDAQ:TMC)

TMC the metals company Inc. (NASDAQ:TMC) was the recipient of some unusual options trading on Friday. Investors bought 11,817 put options on the company. This is an increase of 226% compared to the average volume of 3,622 put options.

Insider Activity

In related news, insider Erika Ilves sold 217,099 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $1.11, for a total transaction of $240,979.89. Following the completion of the transaction, the insider now directly owns 998,170 shares of the company’s stock, valued at $1,107,968.70. This trade represents a 17.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 30.00% of the company’s stock.

Institutional Investors Weigh In On TMC the metals

Hedge funds have recently bought and sold shares of the company. Gray Wealth Management Inc. grew its position in shares of TMC the metals by 59.7% in the 4th quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company’s stock valued at $27,000 after purchasing an additional 8,863 shares during the period. Raymond James Financial Inc. acquired a new position in shares of TMC the metals in the fourth quarter valued at approximately $28,000. Oppenheimer & Co. Inc. bought a new stake in shares of TMC the metals during the fourth quarter worth $28,000. Independent Advisor Alliance bought a new stake in TMC the metals in the 4th quarter valued at $42,000. Finally, Virtu Financial LLC acquired a new position in TMC the metals in the 3rd quarter worth $44,000. 4.39% of the stock is currently owned by institutional investors and hedge funds.

TMC the metals Stock Performance

TMC the metals stock traded up $0.02 during midday trading on Friday, reaching $1.72. The company’s stock had a trading volume of 5,791,070 shares, compared to its average volume of 1,612,022. The firm has a market capitalization of $557.73 million, a PE ratio of -5.79 and a beta of 1.52. TMC the metals has a fifty-two week low of $0.72 and a fifty-two week high of $2.55. The stock’s 50 day simple moving average is $1.78 and its 200 day simple moving average is $1.26.

TMC the metals (NASDAQ:TMC) last issued its quarterly earnings data on Thursday, March 27th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The company had revenue of ($20.18) million during the quarter. Equities analysts predict that TMC the metals will post -0.22 earnings per share for the current year.

Analyst Ratings Changes

TMC has been the topic of several recent analyst reports. Wedbush restated a “neutral” rating and issued a $4.00 target price on shares of TMC the metals in a report on Friday. Alliance Global Partners started coverage on shares of TMC the metals in a research report on Wednesday, January 15th. They set a “buy” rating and a $3.75 target price for the company.

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.