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

TMC the metals company Inc. (NASDAQ:TMC) was the target of unusually large options trading on Monday. Traders purchased 12,639 put options on the company. This represents an increase of approximately 1,077% compared to the average daily volume of 1,074 put options.

TMC the metals Price Performance

NASDAQ TMC opened at $0.85 on Tuesday. The stock has a market capitalization of $275.62 million, a price-to-earnings ratio of -2.74 and a beta of 1.62. TMC the metals has a 1-year low of $0.72 and a 1-year high of $2.07. The business’s fifty day moving average price is $0.92 and its 200-day moving average price is $1.08.

Insiders Place Their Bets

In related news, CFO Craig Shesky sold 47,523 shares of TMC the metals stock in a transaction dated Wednesday, November 27th. The stock was 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 in the company, valued at approximately $831,167.40. This trade represents a 4.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew Hall sold 66,000 shares of TMC the metals stock in a transaction that occurred on 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 sale, the director now 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 disclosure for this sale can be found here. 30.00% of the stock is owned by corporate insiders.

Institutional Trading of TMC the metals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TMC. Virtu Financial LLC bought a new position in shares of TMC the metals in the third quarter worth approximately $44,000. 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, Old West Investment Management LLC raised its position in shares of TMC the metals by 100.0% during the third quarter. Old West Investment Management LLC now owns 1,593,230 shares of the company’s stock valued at $1,689,000 after buying an additional 796,615 shares during the last quarter. 4.39% of the stock is owned by hedge funds and other institutional investors.

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.