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

Posted by Jeff Wilder on Nov 15th, 2024

TMC the metals company Inc. (NASDAQ:TMC – Get Free Report) was the target of some unusual options trading activity on Friday. Investors purchased 6,070 put options on the stock. This represents an increase of 556% compared to the typical volume of 925 put options.

Institutional Trading of TMC the metals

Several institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in TMC the metals during the 1st quarter valued at about $45,000. Brown Lisle Cummings Inc. grew its holdings in shares of TMC the metals by 100.0% in the second quarter. Brown Lisle Cummings Inc. now owns 50,000 shares of the company’s stock worth $68,000 after purchasing an additional 25,000 shares during the last quarter. New Hampshire Trust bought a new stake in TMC the metals during the 2nd quarter valued at $543,000. Finally, Old West Investment Management LLC boosted its position in TMC the metals by 100.0% during the 3rd 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 during the period. 4.39% of the stock is currently owned by hedge funds and other institutional investors.

TMC the metals Stock Up 3.6 %

NASDAQ:TMC traded up $0.03 during midday trading on Friday, hitting $0.99. The company had a trading volume of 883,975 shares, compared to its average volume of 1,293,341. The stock’s fifty day moving average price is $1.00 and its 200-day moving average price is $1.20. TMC the metals has a 52-week low of $0.80 and a 52-week high of $2.07.

TMC the metals (NASDAQ:TMC – Get Free Report) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). During the same period in the previous year, the firm earned ($0.05) EPS. As a group, research analysts anticipate that TMC the metals will post -0.2 EPS for the current fiscal year.

TMC the metals Company Profile

(Get Free Report)

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.