TMC the metals (NASDAQ:TMC) Given Outperform Rating at Wedbush

TMC the metals (NASDAQ:TMC)‘s stock had its “outperform” rating reissued by Wedbush in a research note issued to investors on Monday,Benzinga reports. They currently have a $8.00 target price on the stock. Wedbush’s price objective would suggest a potential upside of 50.38% from the stock’s current price.

TMC has been the subject of a number of other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of TMC the metals in a research note on Wednesday, January 21st. HC Wainwright lifted their target price on shares of TMC the metals from $7.50 to $11.75 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.88.

TMC the metals Price Performance

Shares of NASDAQ TMC opened at $5.32 on Monday. TMC the metals has a twelve month low of $2.22 and a twelve month high of $11.35. The firm has a fifty day simple moving average of $5.53 and a 200 day simple moving average of $6.55. The company has a market capitalization of $2.30 billion, a PE ratio of -6.65 and a beta of 2.00.

Institutional Investors Weigh In On TMC the metals

Large investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in TMC the metals in the fourth quarter worth $1,460,000. Quantbot Technologies LP grew its holdings in TMC the metals by 2,615.8% in the third quarter. Quantbot Technologies LP now owns 195,971 shares of the company’s stock worth $1,248,000 after purchasing an additional 188,755 shares during the period. Mutual Advisors LLC acquired a new stake in TMC the metals in the third quarter worth $1,390,000. Old West Investment Management LLC grew its holdings in TMC the metals by 49.6% in the third quarter. Old West Investment Management LLC now owns 1,997,238 shares of the company’s stock worth $12,722,000 after purchasing an additional 662,200 shares during the period. Finally, One Wealth Management Investment & Advisory Services LLC acquired a new position in shares of TMC the metals during the fourth quarter valued at about $77,000. 4.39% of the stock is currently owned by institutional investors and hedge funds.

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. 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.