TMC the metals Sees Unusually Large Options Volume (NASDAQ:TMC)

TMC the metals company Inc. (NASDAQ:TMC) saw some unusual options trading on Friday. Stock traders acquired 6,070 put options on the stock. This represents an increase of 556% compared to the typical daily volume of 925 put options.

TMC the metals Price Performance

TMC traded up $0.03 during midday trading on Friday, reaching $0.99. The company’s stock had a trading volume of 883,975 shares, compared to its average volume of 1,293,341. The stock’s 50-day moving average is $1.00 and its 200-day moving average is $1.20. TMC the metals has a 1 year low of $0.80 and a 1 year high of $2.07.

TMC the metals (NASDAQ:TMC) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). During the same period in the previous year, the firm earned ($0.05) earnings per share. Analysts anticipate that TMC the metals will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TMC the metals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TMC. Virtu Financial LLC bought a new stake in shares of TMC the metals in the first quarter worth approximately $45,000. Brown Lisle Cummings Inc. grew its position in TMC the metals by 100.0% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 50,000 shares of the company’s stock worth $68,000 after purchasing an additional 25,000 shares during the period. New Hampshire Trust purchased a new stake in TMC the metals during the 2nd quarter valued at $543,000. Finally, Old West Investment Management LLC boosted its stake in shares of TMC the metals by 100.0% in the 3rd quarter. Old West Investment Management LLC now owns 1,593,230 shares of the company’s stock worth $1,689,000 after buying an additional 796,615 shares during the last quarter. 4.39% of the stock is 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.