TMC the metals (NASDAQ:TMC) Shares Gap Up – Should You Buy?

TMC the metals company Inc. (NASDAQ:TMC) shares gapped up prior to trading on Monday . The stock had previously closed at $1.96, but opened at $2.08. TMC the metals shares last traded at $1.96, with a volume of 1,167,233 shares.

Analysts Set New Price Targets

Separately, Alliance Global Partners began coverage on TMC the metals in a research report on Wednesday, January 15th. They set a “buy” rating and a $3.75 price objective on the stock.

TMC the metals Stock Up 0.8 %

The firm has a market cap of $640.41 million, a P/E ratio of -6.37 and a beta of 1.54. The business has a fifty day simple moving average of $1.42 and a 200-day simple moving average of $1.13.

Insider Transactions at TMC the metals

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

Hedge Funds Weigh In On TMC the metals

Hedge funds have recently bought and sold shares of the company. First Manhattan CO. LLC. raised its holdings in TMC the metals by 115.2% in the fourth quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company’s stock worth $20,974,000 after buying an additional 10,025,000 shares during the last quarter. Jane Street Group LLC lifted its position in TMC the metals by 7,330.9% in the 4th quarter. Jane Street Group LLC now owns 1,345,812 shares of the company’s stock valued at $1,507,000 after acquiring an additional 1,364,424 shares in the last quarter. Old West Investment Management LLC boosted its stake in TMC the metals by 168.0% during the 4th quarter. Old West Investment Management LLC now owns 2,135,038 shares of the company’s stock valued at $2,391,000 after purchasing an additional 1,338,423 shares during the last quarter. Shay Capital LLC increased its holdings in TMC the metals by 965.6% in the 4th quarter. Shay Capital LLC now owns 932,404 shares of the company’s stock worth $1,044,000 after buying an additional 844,904 shares in the last quarter. Finally, Tidal Investments LLC grew 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 acquiring an additional 119,335 shares during the period. 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.