TMC the metals (NASDAQ:TMC) Stock Price Up 12.6% – Time to Buy?

TMC the metals company Inc. (NASDAQ:TMC)’s stock price traded up 12.6% during trading on Tuesday . The company traded as high as $4.63 and last traded at $4.6150. 5,513,848 shares were traded during trading, a decline of 31% from the average session volume of 8,026,533 shares. The stock had previously closed at $4.10.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TMC shares. Wedbush decreased their target price on TMC the metals from $11.00 to $8.00 and set an “outperform” rating on the stock in a report on Tuesday. HC Wainwright upped their target price on TMC the metals from $7.50 to $11.75 and gave the company a “buy” rating in a report on Friday, January 23rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of TMC the metals in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $9.88.

TMC the metals Stock Performance

The firm has a 50 day moving average of $6.29 and a 200-day moving average of $6.68. The stock has a market capitalization of $1.91 billion, a PE ratio of -5.78 and a beta of 1.87.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. purchased a new stake in TMC the metals in the 1st quarter worth approximately $211,000. Geode Capital Management LLC grew its holdings in shares of TMC the metals by 79.6% during the 2nd quarter. Geode Capital Management LLC now owns 330,823 shares of the company’s stock valued at $2,183,000 after acquiring an additional 146,650 shares in the last quarter. Creative Planning acquired a new position in shares of TMC the metals in the second quarter worth $76,000. Cetera Investment Advisers purchased a new stake in shares of TMC the metals during the second quarter worth $168,000. Finally, Swiss National Bank purchased a new stake in shares of TMC the metals during the second quarter worth $2,940,000. Institutional investors and hedge funds own 4.39% of the company’s stock.

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. 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.