Stock Traders Buy High 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 activity on Friday. Traders bought 11,817 put options on the stock. This represents an increase of approximately 226% compared to the typical daily volume of 3,622 put options.

Insider Activity at TMC the metals

In other news, insider Erika Ilves sold 217,099 shares of the stock in a transaction dated 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 owns 998,170 shares in the company, valued at approximately $1,107,968.70. This trade represents a 17.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 30.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Gray Wealth Management Inc. lifted its stake in TMC the metals by 59.7% during the fourth quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company’s stock worth $27,000 after purchasing an additional 8,863 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of TMC the metals during the fourth quarter worth $28,000. Oppenheimer & Co. Inc. bought a new position in shares of TMC the metals in the 4th quarter worth about $28,000. Independent Advisor Alliance acquired a new position in shares of TMC the metals in the 4th quarter valued at about $42,000. Finally, Virtu Financial LLC bought a new stake in shares of TMC the metals during the 3rd quarter valued at about $44,000. Institutional investors and hedge funds own 4.39% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on TMC shares. Wedbush reiterated a “neutral” rating and set a $4.00 price objective on shares of TMC the metals in a research note on Friday. 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 objective for the company.

TMC the metals Price Performance

NASDAQ TMC opened at $1.72 on Friday. The company has a market capitalization of $557.73 million, a price-to-earnings ratio of -5.55 and a beta of 1.52. TMC the metals has a 12 month low of $0.72 and a 12 month high of $2.55. The company’s fifty day moving average price is $1.78 and its two-hundred day moving average price is $1.26.

TMC the metals (NASDAQ:TMC) last issued its quarterly earnings results on Thursday, March 27th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01. The company had revenue of ($20.18) million for the quarter. As a group, analysts anticipate that TMC the metals will post -0.22 EPS for the current year.

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.