Key Points
- TMC director Brendan May sold 20,768 shares on June 2 at an average price of $6.42, totaling $133,330.56. The sale reduced his position by about 9.7%, leaving him with 193,346 shares.
- The transaction was disclosed in an SEC filing and was made to cover tax withholding obligations tied to the vesting of equity awards, rather than a broader strategic exit.
- Analyst sentiment is mixed but mostly constructive: HC Wainwright reiterated a buy rating with a $11.75 target, while MarketBeat shows an average Hold rating and a consensus price target of $10.88.
TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) Director Brendan May sold 20,768 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $6.42, for a total transaction of $133,330.56. Following the sale, the director directly owned 193,346 shares in the company, valued at $1,241,281.32. The trade was a 9.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
TMC the metals Price Performance
Shares of NASDAQ TMC opened at $6.49 on Wednesday. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of -8.22 and a beta of 1.99. TMC the metals company Inc. has a 12 month low of $3.93 and a 12 month high of $11.35. The firm's 50 day simple moving average is $5.16 and its 200-day simple moving average is $6.12.
TMC the metals (NASDAQ:TMC - Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.01. Analysts anticipate that TMC the metals company Inc. will post -0.31 earnings per share for the current fiscal year.
Institutional Investors Weigh In On TMC the metals
A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in TMC the metals by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 371,142 shares of the company's stock valued at $2,288,000 after acquiring an additional 1,566 shares during the period. Howe & Rusling Inc. grew its stake in TMC the metals by 31.2% in the 3rd quarter. Howe & Rusling Inc. now owns 14,855 shares of the company's stock valued at $95,000 after acquiring an additional 3,530 shares during the period. NewEdge Advisors LLC acquired a new stake in TMC the metals in the 2nd quarter valued at $28,000. Osterweis Capital Management Inc. acquired a new stake in TMC the metals in the 4th quarter valued at $29,000. Finally, Farther Finance Advisors LLC grew its stake in TMC the metals by 465.8% in the 4th quarter. Farther Finance Advisors LLC now owns 5,686 shares of the company's stock valued at $35,000 after acquiring an additional 4,681 shares during the period. Institutional investors and hedge funds own 4.39% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on TMC. HC Wainwright reaffirmed a "buy" rating and set a $11.75 price objective on shares of TMC the metals in a research note on Tuesday. Wedbush raised their price objective on shares of TMC the metals from $8.00 to $10.00 and gave the stock an "outperform" rating in a research note on Monday, May 4th. Wall Street Zen raised shares of TMC the metals from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of TMC the metals in a research note on Monday, April 20th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $10.88.
View Our Latest Stock Report on TMC the metals
About TMC the metals
(
Get Free Report)
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. Its products are used in electric vehicles (EV), renewable energy storage markets, EV wiring, energy transmission, manganese alloy production required for steel production, and other applications.
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