TMC the metals Sees Unusually Large Options Volume (NASDAQ:TMC)

TMC the metals company Inc. (NASDAQ:TMC) was the target of some unusual options trading on Friday. Stock investors bought 6,070 put options on the stock. This represents an increase of 556% compared to the average volume of 925 put options.

TMC the metals Trading Up 4.1 %

TMC the metals stock opened at $1.00 on Friday. The firm has a market cap of $322.37 million, a price-to-earnings ratio of -3.21 and a beta of 1.69. TMC the metals has a 12 month low of $0.80 and a 12 month high of $2.07. The stock has a fifty day simple moving average of $1.00 and a two-hundred day simple moving average of $1.20.

TMC the metals (NASDAQ:TMC) last issued its earnings results on Wednesday, August 14th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). During the same period last year, the firm earned ($0.05) earnings per share. On average, equities research analysts forecast that TMC the metals will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TMC. Virtu Financial LLC purchased a new stake in TMC the metals during the first quarter valued at $45,000. Brown Lisle Cummings Inc. increased its position in shares of TMC the metals by 100.0% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 50,000 shares of the company’s stock valued at $68,000 after purchasing an additional 25,000 shares during the last quarter. New Hampshire Trust purchased a new stake in shares of TMC the metals during the 2nd quarter valued at about $543,000. Finally, Old West Investment Management LLC lifted its stake in shares of 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 during the period. 4.39% of the stock is owned by hedge funds and other 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.