TMC the metals (NASDAQ:TMC) Stock Price Up 14.5% – What’s Next?

Shares of TMC the metals company Inc. (NASDAQ:TMC) traded up 14.5% during mid-day trading on Monday . The company traded as high as $1.72 and last traded at $1.97. 2,147,102 shares changed hands during trading, an increase of 32% from the average session volume of 1,629,254 shares. The stock had previously closed at $1.72.

Wall Street Analyst Weigh In

TMC has been the subject of a number of research analyst reports. Alliance Global Partners initiated coverage on shares of TMC the metals in a report on Wednesday, January 15th. They set a “buy” rating and a $3.75 price objective for the company. Wedbush reaffirmed a “neutral” rating and set a $4.00 target price on shares of TMC the metals in a research report on Friday.

TMC the metals Stock Performance

The firm’s 50-day moving average price is $1.78 and its two-hundred day moving average price is $1.27. The stock has a market cap of $557.73 million, a PE ratio of -5.55 and a beta of 1.52.

TMC the metals (NASDAQ:TMC) last announced its earnings results on Thursday, March 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. The company had revenue of ($20.18) million for the quarter. On average, analysts anticipate that TMC the metals company Inc. will post -0.22 earnings per share for the current year.

Institutional Trading of TMC the metals

Hedge funds have recently modified their holdings of the company. Oppenheimer & Co. Inc. purchased a new stake in TMC the metals during the fourth quarter valued at approximately $28,000. Tidal Investments LLC boosted its holdings in TMC the metals by 32.6% in the third quarter. Tidal Investments LLC now owns 485,332 shares of the company’s stock worth $514,000 after acquiring an additional 119,335 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of TMC the metals during the third quarter valued at about $44,000. SBI Securities Co. Ltd. purchased a new position in shares of TMC the metals in the 4th quarter valued at approximately $94,000. Finally, Independent Advisor Alliance acquired a new stake in TMC the metals in the 4th quarter worth approximately $42,000. 4.39% of the stock is owned by hedge funds and other institutional investors.

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.