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

TMC the metals company Inc. (NASDAQ:TMC) was the recipient of some unusual options trading activity on Wednesday. Investors acquired 5,391 call options on the company. This is an increase of 118% compared to the typical daily volume of 2,476 call options.

Insider Activity

In related news, insider Erika Ilves sold 217,099 shares of the business’s stock in a transaction on Monday, December 30th. The shares were 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 directly owns 998,170 shares in the company, valued at $1,107,968.70. The trade was a 17.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Craig Shesky sold 47,523 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $0.85, for a total transaction of $40,394.55. Following the transaction, the chief financial officer now owns 977,844 shares of the company’s stock, valued at $831,167.40. This represents a 4.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 30.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Gray Wealth Management Inc. raised its position in shares of TMC the metals by 59.7% in the fourth quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company’s stock worth $27,000 after acquiring an additional 8,863 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of TMC the metals in the fourth quarter worth about $28,000. Raymond James Financial Inc. acquired a new position in shares of TMC the metals in the fourth quarter worth about $28,000. Independent Advisor Alliance acquired a new position in shares of TMC the metals in the fourth quarter worth about $42,000. Finally, Virtu Financial LLC purchased a new stake in shares of TMC the metals during the third quarter worth about $44,000. Institutional investors and hedge funds own 4.39% of the company’s stock.

TMC the metals Stock Performance

Shares of TMC the metals stock opened at $2.37 on Thursday. The firm has a 50-day simple moving average of $1.36 and a two-hundred day simple moving average of $1.11. The company has a market cap of $768.50 million, a P/E ratio of -7.64 and a beta of 1.54. TMC the metals has a fifty-two week low of $0.72 and a fifty-two week high of $2.55.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners assumed coverage on shares of TMC the metals in a research report on Wednesday, January 15th. They set a “buy” rating and a $3.75 target price for the company.

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.