TMC the metals company Inc. (NASDAQ:TMC – Get Free Report)’s share price gapped up before the market opened on Friday . The stock had previously closed at $1.82, but opened at $1.91. TMC the metals shares last traded at $2.01, with a volume of 1,835,197 shares.
Wall Street Analysts Forecast Growth
TMC has been the subject of several research analyst reports. ThinkEquity initiated coverage on shares of TMC the metals in a research report on Monday, July 10th. They issued a “buy” rating for the company. Wedbush boosted their target price on shares of TMC the metals from $3.00 to $4.00 in a research note on Friday, July 7th.
TMC the metals Price Performance
The stock’s fifty day moving average price is $1.23 and its 200-day moving average price is $1.01. The firm has a market cap of $606.18 million, a price-to-earnings ratio of -3.72 and a beta of 1.47.
Insiders Place Their Bets
In other TMC the metals news, Director Andrei Karkar bought 3,997,519 shares of the firm’s stock in a transaction on Thursday, June 8th. The stock was bought at an average cost of $0.75 per share, with a total value of $2,998,139.25. Following the completion of the transaction, the director now directly owns 55,953,495 shares of the company’s stock, valued at approximately $41,965,121.25. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 31.30% of the company’s stock.
Hedge Funds Weigh In On TMC the metals
Large investors have recently bought and sold shares of the stock. First Manhattan Co. raised its stake in shares of TMC the metals by 442.0% in the 4th quarter. First Manhattan Co. now owns 5,420,000 shares of the company’s stock valued at $4,173,000 after buying an additional 4,420,000 shares in the last quarter. Baird Financial Group Inc. raised its stake in shares of TMC the metals by 7,391.3% in the 1st quarter. Baird Financial Group Inc. now owns 1,198,600 shares of the company’s stock valued at $3,104,000 after buying an additional 1,182,600 shares in the last quarter. Bank of Montreal Can raised its stake in shares of TMC the metals by 5,685.4% in the 1st quarter. Bank of Montreal Can now owns 607,470 shares of the company’s stock valued at $1,331,000 after buying an additional 596,970 shares in the last quarter. First Manhattan CO. LLC. raised its stake in shares of TMC the metals by 9.0% in the 1st quarter. First Manhattan CO. LLC. now owns 5,910,000 shares of the company’s stock valued at $4,899,000 after buying an additional 490,000 shares in the last quarter. Finally, Luminus Management LLC acquired a new position in shares of TMC the metals in the 1st quarter valued at $971,000. 49.93% of the stock is currently owned by institutional investors and hedge funds.
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 the Clarion Clipperton Zone (CCZ) in the south-west of San Diego, California. It primarily explores for nickel, cobalt, copper, and manganese products.
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