Stock Traders Buy Large Volume of TMC the metals Call Options (NASDAQ:TMC)

TMC the metals company Inc. (NASDAQ:TMC) saw some unusual options trading on Thursday. Investors bought 2,700 call options on the stock. This is an increase of approximately 106% compared to the typical daily volume of 1,310 call options.

Insider Buying and Selling at TMC the metals

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

Institutional Trading of TMC the metals

Several hedge funds have recently modified their holdings of the company. 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 worth $1,689,000 after acquiring an additional 796,615 shares in the last quarter. Tidal Investments LLC boosted its holdings in TMC the metals by 32.6% in the third 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 last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of 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.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners began coverage on shares of TMC the metals in a research note on Wednesday. They set a “buy” rating and a $3.75 price objective on the stock.

TMC the metals Stock Up 17.3 %

Shares of NASDAQ TMC traded up $0.23 during mid-day trading on Thursday, reaching $1.53. 7,639,524 shares of the company were exchanged, compared to its average volume of 2,855,297. The firm has a 50-day moving average of $0.95 and a 200 day moving average of $1.04. TMC the metals has a 1 year low of $0.72 and a 1 year high of $2.07. The stock has a market cap of $494.50 million, a price-to-earnings ratio of -4.98 and a beta of 1.49.

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.