Positive sentiment towards TMC reflected by a fall of -13.27% in short interest

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. TMC the metals company Inc shares valued at $69,000 were sold by O’Sullivan Anthony on Nov 27 ’23. At $1.38 per share, O’Sullivan Anthony sold 50,000 shares. The insider’s holdings dropped to 385,110 shares worth approximately $0.7 million following the completion of this transaction.

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Also, Shesky Craig sold 31,057 shares, netting a total of over 39,036 in proceeds. Following the sale of shares at $1.26 each, the insider now holds 779,641 shares.

Before that, Stone Gregory had sold 25,000 shares from its account. In a trade valued at $26,425, the Chief Ocean Scientist traded TMC the metals company Inc shares for $1.06 each. Upon closing the transaction, the insider’s holdings decreased to 25,000 shares, worth approximately $0.71 million.

As published in their initiating research note from Cantor Fitzgerald on November 13, 2023, TMC the metals company Inc [TMC] has been a Buy and the price target has been revised to $4.20. Analysts at Wedbush started covering the stock with ‘”a Neutral”‘ outlook in a report released in late November. As of November 12, 2021, Piper Sandler has initiated its “Neutral” rating for TMC. Earlier on November 11, 2021, The Benchmark Company initiated its rating. Their recommendation was “a Hold” for TMC stock.

Analyzing TMC Stock Performance

During the last five days, there has been a surge of approximately 27.97%. Over the course of the year, TMC the metals company Inc shares have jumped approximately 66.36%. Shares of the company reached a 52-week high of $2.0700 on 03/13/24 and a 52-week low of $1.0500 on 01/03/24. A 50-day SMA is recorded $1.3485, while a 200-day SMA reached $1.2457. Nevertheless, trading volume fell to 6.27 million shares from 1.96 million shares the previous day.

Support And Resistance Levels for TMC the metals company Inc (TMC)

According to the 24-hour chart, there is a support level at 1.6700, which, if violated, would cause prices to drop to 1.5100. In the upper region, resistance lies at 2.0300. The next price resistance is at 2.2300. RSI (Relative Strength Index) is 74.08 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.2336, which suggests the price will decrease in the coming days. Percent R is at 28.57%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is TMC the metals company Inc subject to short interest?

Stocks of TMC the metals company Inc saw a sharp steep in short interest on Feb 29, 2024 dropping by -1.06 million shares to 7.99 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 9.05 million shares. A decline of -13.27% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 7.1 of the overall float, the days-to-cover ratio (short ratio) decline to 7.1.

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