TMC the metals company Inc (NASDAQ:TMC) price on Wednesday, July 23, rose 5.53% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $7.63.
A look at the stock’s price movement, the close in the last trading session was $7.23. Turning to its 52-week performance, $8.19 and $0.72 were the 52-week high and 52-week low respectively. Overall, TMC moved 16.31% over the past month.
TMC the metals company Inc’s market cap currently stands at around $3.06 billion, with investors looking forward to this quarter’s earnings report slated for in August.
Turning to the stock’s technical picture we see that short term indicators suggest on average that TMC is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
TMC’s current price about 8.69% and 37.67% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 60.91, while 7-day volatility ratio is 9.21% and 9.36% in the 30-day chart. Further, TMC the metals company Inc (TMC) has a beta value of 1.60. Analysts have given the company’s stock an average 52-week price target of $8.625, forecast between a low of $6.25 and high of $11. Looking at the price targets, the low is 18.09% off current price level while to achieve the yearly target high, price needs to move -44.17%. Nonetheless, investors will most likely welcome a -13.04% jump to $8.625 which is the analysts’ median price.
If we refocus on TMC the metals company Inc (NASDAQ:TMC), historical trading data shows that trading volumes averaged 12.28 million over the past 3 months. The company’s latest data on shares outstanding shows there are 356.62 million shares.
The 55.39% of TMC the metals company Inc’s shares are in the hands of company insiders while institutional holders own 8.84% of the company’s shares. Current price change has pushed the stock 482.44% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the TMC stock continues to rise going into the next quarter.
