TMC the metals (NASDAQ:TMC) Now Covered by Analysts at Alliance Global Partners

Research analysts at Alliance Global Partners assumed coverage on shares of TMC the metals (NASDAQ:TMC) in a note issued to investors on Wednesday, Marketbeat.com reports. The firm set a “buy” rating and a $3.75 price target on the stock. Alliance Global Partners’ target price suggests a potential upside of 138.85% from the stock’s previous close.

TMC the metals Stock Up 20.8 %

Shares of TMC stock opened at $1.57 on Wednesday. TMC the metals has a 12-month low of $0.72 and a 12-month high of $2.07. The company has a 50 day moving average of $0.95 and a 200-day moving average of $1.04. The firm has a market cap of $509.09 million, a P/E ratio of -5.06 and a beta of 1.49.

Insider Activity

In other TMC the metals news, Director Andrew Hall sold 66,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $0.93, for a total transaction of $61,380.00. Following the sale, the director now directly owns 182,966 shares of the company’s stock, valued at $170,158.38. This represents a 26.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Erika Ilves sold 217,099 shares of TMC the metals stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $1.11, for a total transaction of $240,979.89. Following the completion of the transaction, the insider now 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 disclosure for this sale can be found here. Insiders have sold 330,622 shares of company stock valued at $342,754 in the last 90 days. Insiders own 30.00% of the company’s stock.

Institutional Investors Weigh In On TMC the metals

Several institutional investors have recently made changes to their positions in TMC. Old West Investment Management LLC raised its stake in shares of TMC the metals by 100.0% during the 3rd quarter. Old West Investment Management LLC now owns 1,593,230 shares of the company’s stock valued at $1,689,000 after purchasing an additional 796,615 shares during the period. Tidal Investments LLC grew its holdings in TMC the metals by 32.6% during the 3rd quarter. Tidal Investments LLC now owns 485,332 shares of the company’s stock valued at $514,000 after buying an additional 119,335 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of TMC the metals during the third quarter valued at about $44,000. Hedge funds and other 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.