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

TMC the metals company Inc. (NASDAQ:TMC) was the target of unusually large options trading on Friday. Stock investors purchased 11,817 put options on the stock. This represents an increase of 226% compared to the typical volume of 3,622 put options.

TMC the metals Price Performance

NASDAQ TMC opened at $1.72 on Friday. TMC the metals has a 12 month low of $0.72 and a 12 month high of $2.55. The company has a market capitalization of $557.73 million, a P/E ratio of -5.55 and a beta of 1.52. The company’s 50 day simple moving average is $1.78 and its 200 day simple moving average is $1.26.

TMC the metals (NASDAQ:TMC) last posted its quarterly earnings results on Thursday, March 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. The company had revenue of ($20.18) million during the quarter. On average, analysts anticipate that TMC the metals will post -0.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TMC shares. Alliance Global Partners began coverage on TMC the metals in a research report on Wednesday, January 15th. They issued a “buy” rating and a $3.75 target price for the company. Wedbush restated a “neutral” rating and issued a $4.00 price objective on shares of TMC the metals in a report on Friday.

Insider Transactions at TMC the metals

In related news, insider Erika Ilves sold 217,099 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $1.11, for a total value of $240,979.89. Following the completion of the transaction, the insider now owns 998,170 shares in the company, valued at $1,107,968.70. This represents a 17.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 30.00% of the company’s stock.

Institutional Investors Weigh In On TMC the metals

Hedge funds have recently modified their holdings of the stock. Gray Wealth Management Inc. increased its stake in TMC the metals by 59.7% in the 4th quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company’s stock worth $27,000 after purchasing an additional 8,863 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of TMC the metals in the fourth quarter worth approximately $28,000. Oppenheimer & Co. Inc. purchased a new stake in shares of TMC the metals in the 4th quarter valued at approximately $28,000. Independent Advisor Alliance acquired a new position in TMC the metals in the 4th quarter worth approximately $42,000. Finally, Virtu Financial LLC purchased a new position in TMC the metals during the 3rd quarter worth approximately $44,000. 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.