Brendan May Sells 20,768 Shares of TMC the metals (NASDAQ:TMC) Stock

TMC the metals company Inc. (NASDAQ:TMC) Director Brendan May sold 20,768 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $6.42, for a total transaction of $133,330.56. Following the transaction, the director owned 193,346 shares of the company’s stock, valued at approximately $1,241,281.32. The trade was a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

TMC the metals Price Performance

NASDAQ:TMC opened at $6.12 on Thursday. The stock has a market cap of $2.65 billion, a P/E ratio of -7.75 and a beta of 1.99. TMC the metals company Inc. has a one year low of $3.93 and a one year high of $11.35. The company has a fifty day moving average price of $5.21 and a 200 day moving average price of $6.13.

TMC the metals (NASDAQ:TMC) last released its earnings results on Thursday, May 14th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01. As a group, equities research analysts anticipate that TMC the metals company Inc. will post -0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TMC. HC Wainwright reiterated a “buy” rating and set a $11.75 target price on shares of TMC the metals in a research note on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of TMC the metals in a research note on Monday, April 20th. Wall Street Zen raised shares of TMC the metals from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Wedbush boosted their price target on shares of TMC the metals from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, TMC the metals presently has a consensus rating of “Hold” and an average target price of $10.88.

Institutional Investors Weigh In On TMC the metals

Several institutional investors and hedge funds have recently bought and sold shares of the business. Encompass Capital Advisors LLC bought a new stake in TMC the metals in the 4th quarter valued at $18,510,000. Old West Investment Management LLC increased its holdings in TMC the metals by 49.6% in the 3rd quarter. Old West Investment Management LLC now owns 1,997,238 shares of the company’s stock valued at $12,722,000 after buying an additional 662,200 shares during the period. State Street Corp increased its holdings in TMC the metals by 2.4% in the 4th quarter. State Street Corp now owns 986,160 shares of the company’s stock valued at $6,085,000 after buying an additional 23,095 shares during the period. Verition Fund Management LLC increased its holdings in TMC the metals by 120.1% in the 4th quarter. Verition Fund Management LLC now owns 817,364 shares of the company’s stock valued at $5,043,000 after buying an additional 445,985 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in TMC the metals in the 1st quarter valued at $3,409,000. Institutional investors own 4.39% of the company’s 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. Its products are used in electric vehicles (EV), renewable energy storage markets, EV wiring, energy transmission, manganese alloy production required for steel production, and other applications.