Stock Traders Buy High Volume of Put Options on TMC the metals (NASDAQ:TMC)

TMC the metals company Inc. (NASDAQ:TMC) was the recipient of unusually large options trading on Monday. Investors acquired 12,639 put options on the stock. This is an increase of 1,077% compared to the typical volume of 1,074 put options.

Insiders Place Their Bets

In other news, Director Andrew Hall sold 66,000 shares of the business’s stock in a transaction dated 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 directly owns 182,966 shares in the company, valued at approximately $170,158.38. The trade was a 26.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Craig Shesky sold 47,523 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $0.85, for a total transaction of $40,394.55. Following the completion of the sale, the chief financial officer now owns 977,844 shares in the company, valued at $831,167.40. This represents a 4.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 30.00% of the company’s stock.

Institutional Trading of TMC the metals

Several hedge funds have recently added to or reduced their stakes in the business. Old West Investment Management LLC increased its position in shares of TMC the metals by 100.0% during the third quarter. Old West Investment Management LLC now owns 1,593,230 shares of the company’s stock worth $1,689,000 after acquiring an additional 796,615 shares in the last quarter. Tidal Investments LLC raised its stake in shares of TMC the metals by 32.6% in the 3rd quarter. Tidal Investments LLC now owns 485,332 shares of the company’s stock valued at $514,000 after purchasing an additional 119,335 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of TMC the metals in the 3rd quarter valued at about $44,000. Institutional investors and hedge funds own 4.39% of the company’s stock.

TMC the metals Price Performance

TMC traded up $0.14 during mid-day trading on Monday, hitting $0.88. The stock had a trading volume of 1,721,106 shares, compared to its average volume of 1,332,733. The stock’s fifty day simple moving average is $0.92 and its 200-day simple moving average is $1.08. The firm has a market capitalization of $286.03 million, a price-to-earnings ratio of -2.85 and a beta of 1.62. TMC the metals has a 1-year low of $0.72 and a 1-year high of $2.07.

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.