Craig Shesky Sells 353,702 Shares of TMC the metals company Inc. (NASDAQ:TMC) Stock

TMC the metals company Inc. (NASDAQ:TMC) CFO Craig Shesky sold 353,702 shares of TMC the metals stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 1,145,717 shares in the company, valued at $1,901,890.22. This represents a 23.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

TMC the metals Stock Performance

TMC traded up $0.24 during trading on Wednesday, reaching $1.90. 2,812,040 shares of the company traded hands, compared to its average volume of 1,696,230. TMC the metals company Inc. has a 12-month low of $0.72 and a 12-month high of $2.55. The firm has a fifty day simple moving average of $1.78 and a 200 day simple moving average of $1.28. The company has a market cap of $616.10 million, a P/E ratio of -6.13 and a beta of 1.52.

TMC the metals (NASDAQ:TMC) last released its quarterly earnings data on Thursday, March 27th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01. The company had revenue of ($20.18) million for the quarter. As a group, sell-side analysts expect that TMC the metals company Inc. will post -0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TMC. Wedbush restated a “neutral” rating and set a $4.00 price objective on shares of TMC the metals in a research report on Friday, March 28th. Alliance Global Partners initiated coverage on TMC the metals in a report on Wednesday, January 15th. They set a “buy” rating and a $3.75 price target on the stock.

Institutional Trading of TMC the metals

A number of large investors have recently added to or reduced their stakes in the company. Gray Wealth Management Inc. boosted its position in shares of TMC the metals by 59.7% during 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 last quarter. Raymond James Financial Inc. purchased a new stake in TMC the metals during the fourth quarter valued at $28,000. Oppenheimer & Co. Inc. bought a new position in TMC the metals during the fourth quarter valued at $28,000. Independent Advisor Alliance purchased a new position in shares of TMC the metals in the 4th quarter worth $42,000. Finally, Virtu Financial LLC bought a new stake in shares of TMC the metals in the 3rd quarter worth about $44,000. Institutional investors own 4.39% of the company’s stock.

About TMC the metals

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.