TMC the metals (NASDAQ:TMC) Coverage Initiated at Alliance Global Partners

Analysts at Alliance Global Partners began coverage on shares of TMC the metals (NASDAQ:TMC) in a research note issued on Wednesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $3.75 price target on the stock. Alliance Global Partners’ price target would indicate a potential upside of 257.14% from the company’s previous close.

TMC the metals Trading Down 1.9 %

TMC opened at $1.05 on Wednesday. TMC the metals has a 12 month low of $0.72 and a 12 month high of $2.07. The business’s 50-day moving average price is $0.94 and its 200-day moving average price is $1.04. The company has a market cap of $340.48 million, a P/E ratio of -3.39 and a beta of 1.49.

Insider Buying and Selling at TMC the metals

In other TMC the metals news, Director Andrew Hall sold 66,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $0.93, for a total transaction of $61,380.00. Following the completion of the transaction, the director now owns 182,966 shares of the company’s stock, valued at $170,158.38. This represents a 26.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Craig Shesky sold 47,523 shares of TMC the metals stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $0.85, for a total value of $40,394.55. Following the completion of the sale, the chief financial officer now owns 977,844 shares in the company, valued at approximately $831,167.40. This represents a 4.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 330,622 shares of company stock worth $342,754. 30.00% of the stock is currently owned by insiders.

Institutional Trading of TMC the metals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Old West Investment Management LLC raised its holdings in TMC the metals by 100.0% in the 3rd quarter. Old West Investment Management LLC now owns 1,593,230 shares of the company’s stock worth $1,689,000 after purchasing an additional 796,615 shares in the last quarter. Tidal Investments LLC raised its stake 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 buying an additional 119,335 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in TMC the metals in the third quarter worth about $44,000. Hedge funds and other 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.