Insider Selling: TMC the metals company Inc. (NASDAQ:TMC) CFO Sells $587,145.32 in Stock

TMC the metals company Inc. (NASDAQ:TMC) CFO Craig Shesky sold 353,702 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $1.66, for a total transaction of $587,145.32. Following the sale, the chief financial officer now directly owns 1,145,717 shares in the company, valued at $1,901,890.22. This trade represents a 23.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

TMC the metals Trading Down 6.2 %

TMC opened at $1.83 on Friday. The company has a fifty day moving average price of $1.80 and a two-hundred day moving average price of $1.29. TMC the metals company Inc. has a 1-year low of $0.72 and a 1-year high of $2.55. The company has a market cap of $593.40 million, a P/E ratio of -5.90 and a beta of 1.52.

TMC the metals (NASDAQ:TMC) last posted its quarterly earnings results on Thursday, March 27th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. The firm had revenue of ($20.18) million for the quarter. On average, research analysts forecast that TMC the metals company Inc. will post -0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On TMC the metals

A number of institutional investors have recently modified their holdings of the company. Oppenheimer & Co. Inc. acquired a new stake in shares of TMC the metals in the 4th quarter worth about $28,000. Tidal Investments LLC raised its stake in shares of 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 purchasing an additional 119,335 shares during the last quarter. Virtu Financial LLC bought a new position in shares of TMC the metals in the third quarter valued at approximately $44,000. SBI Securities Co. Ltd. purchased a new position in shares of TMC the metals during the fourth quarter valued at approximately $94,000. Finally, Independent Advisor Alliance bought a new stake in TMC the metals during the fourth quarter worth $42,000. 4.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TMC has been the topic of a number of recent analyst reports. Wedbush reissued a “neutral” rating and issued a $4.00 price objective on shares of TMC the metals in a research note on Friday, March 28th. Alliance Global Partners assumed coverage on TMC the metals in a research note on Wednesday, January 15th. They issued a “buy” rating and a $3.75 price target on the stock.

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.