TMC the metals (NASDAQ:TMC) Stock Price Down 7% – Time to Sell?

TMC the metals company Inc. (NASDAQ:TMC) shares traded down 7% during trading on Tuesday . The company traded as low as $4.66 and last traded at $4.7050. 1,407,398 shares traded hands during trading, a decline of 82% from the average session volume of 7,712,320 shares. The stock had previously closed at $5.06.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of TMC the metals in a report on Wednesday, January 21st. Wedbush restated an “outperform” rating and set a $11.00 target price on shares of TMC the metals in a research report on Thursday, January 22nd. Finally, HC Wainwright raised their price objective on TMC the metals from $7.50 to $11.75 and gave the stock a “buy” rating in a report on Friday, January 23rd. 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. Based on data from MarketBeat, TMC the metals presently has a consensus rating of “Hold” and an average target price of $11.38.

TMC the metals Stock Performance

The stock has a 50 day moving average of $6.58 and a 200 day moving average of $6.71. The stock has a market capitalization of $1.94 billion, a P/E ratio of -6.08 and a beta of 1.87.

Institutional Trading of TMC the metals

Several hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC bought a new position in TMC the metals in the 2nd quarter worth about $28,000. Osterweis Capital Management Inc. bought a new position in TMC the metals in the 4th quarter valued at about $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of TMC the metals in the fourth quarter valued at approximately $29,000. Sunbelt Securities Inc. acquired a new position in shares of TMC the metals during the third quarter valued at approximately $34,000. Finally, KBC Group NV bought a new position in TMC the metals during the second quarter valued at about $37,000. 4.39% of the stock is currently owned by 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. 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.