TMC the metals (NASDAQ:TMC) Shares Gap Up – Should You Buy?

TMC the metals company Inc. (NASDAQ:TMC)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $1.96, but opened at $2.08. TMC the metals shares last traded at $1.96, with a volume of 1,167,233 shares.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners assumed coverage on TMC the metals in a research note on Wednesday, January 15th. They set a “buy” rating and a $3.75 price target on the stock.

TMC the metals Trading Up 1.1 %

The stock has a market capitalization of $606.70 million, a price-to-earnings ratio of -5.97 and a beta of 1.54. The firm has a 50-day moving average of $1.46 and a 200-day moving average of $1.14.

Insider Activity at TMC the metals

In other TMC the metals 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 value 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 $1,107,968.70. This trade represents a 17.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 30.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TMC the metals

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tidal Investments LLC lifted its position in TMC the metals by 11.9% in the fourth quarter. Tidal Investments LLC now owns 542,938 shares of the company’s stock valued at $608,000 after buying an additional 57,606 shares during the last quarter. Shay Capital LLC lifted its stake in TMC the metals by 965.6% during the fourth quarter. Shay Capital LLC now owns 932,404 shares of the company’s stock worth $1,044,000 after purchasing an additional 844,904 shares in the last quarter. First Manhattan CO. LLC. boosted its position in shares of TMC the metals by 115.2% during the fourth quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company’s stock worth $20,974,000 after buying an additional 10,025,000 shares during the period. Jane Street Group LLC grew its stake in shares of TMC the metals by 7,330.9% in the fourth quarter. Jane Street Group LLC now owns 1,345,812 shares of the company’s stock valued at $1,507,000 after buying an additional 1,364,424 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of TMC the metals in the 4th quarter valued at $65,000. 4.39% of the stock is currently owned by institutional investors and hedge funds.

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.