TMC the metals (NASDAQ:TMC) Hits New 1-Year High – What’s Next?

Shares of TMC the metals company Inc. (NASDAQ:TMC) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $2.08 and last traded at $2.07, with a volume of 3724612 shares. The stock had previously closed at $1.88.

Analysts Set New Price Targets

Separately, Alliance Global Partners initiated coverage on TMC the metals in a research report on Wednesday, January 15th. They issued a “buy” rating and a $3.75 target price for the company.

TMC the metals Stock Performance

The firm has a 50 day moving average price of $1.39 and a 200-day moving average price of $1.12.

Insiders Place Their Bets

In related news, insider Erika Ilves sold 217,099 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $1.11, for a total value of $240,979.89. Following the transaction, the insider now directly owns 998,170 shares in the company, valued at $1,107,968.70. This represents a 17.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Craig Shesky sold 47,523 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $0.85, for a total value of $40,394.55. Following the transaction, the chief financial officer now owns 977,844 shares of the company’s stock, valued at $831,167.40. The trade was a 4.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 30.00% of the company’s stock.

Institutional Trading of TMC the metals

A number of institutional investors have recently modified their holdings of TMC. Gray Wealth Management Inc. raised its holdings in TMC the metals by 59.7% in the 4th quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company’s stock valued at $27,000 after acquiring an additional 8,863 shares during the period. Oppenheimer & Co. Inc. bought a new position in TMC the metals in the 4th quarter valued at about $28,000. Raymond James Financial Inc. bought a new position in TMC the metals in the fourth quarter valued at approximately $28,000. Independent Advisor Alliance acquired a new position in TMC the metals during the fourth quarter valued at approximately $42,000. Finally, Virtu Financial LLC bought a new stake in TMC the metals during the third quarter worth $44,000. 4.39% of the stock is currently owned by 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.