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TMC the metals company Inc (NASDAQ: TMC) Continues To Decline

TMC the metals company Inc (NASDAQ:TMC) price closed lower on Monday, November 20, dropping -0.94% below its previous close.

A look at the daily price movement shows that the last close reads $1.06, with intraday deals fluctuated between $1.04 and $1.10. The company’s 5Y monthly beta was ticking 1.61. Taking into account the 52-week price action we note that the stock hit a 52-week high of $3.20 and 52-week low of $0.51. The stock added 22.09% on its value in the past month.

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TMC the metals company Inc, which has a market valuation of $320.42 million, is expected to release its quarterly earnings report Nov 13, 2023 – Nov 17, 2023. Analysts tracking TMC have forecast the quarterly EPS to shrink by -0.11 per share this quarter, while the same analysts predict the annual EPS to hit -$0.23 for the year 2023 and up to -$0.3 for 2024. In this case, analysts estimate an annual EPS growth of 45.20% for the year and -30.40% for the next year.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give TMC a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Sell, while an average of long term indicators are currently assigning the stock as 50% Sell.

The overview shows that TMC’s price is at present 9.34% off the SMA20 and 6.44% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 55.00, with weekly volatility standing at 8.38%. The indicator jumps to 9.47% when calculated based on the past 30 days. TMC the metals company Inc (NASDAQ:TMC)’s beta value is holding at 1.74, while the average true range (ATR) indicator is currently reading 0.09.

An analysis of the TMC the metals company Inc (NASDAQ:TMC) stock in terms of its daily trading volume indicates that the 3-month average is 1.05 million. However, this figure increases on the past 10-day timeline to an average of 0.98 million.

Current records show that the company has 266.81M in outstanding shares. The insiders’ percentage holdings are 67.38% of outstanding shares while the percentage share held by institutions stands at 5.15%. The stats also highlight that short interest as of Oct 30, 2023, stood at 9.1 million shares, which puts the short ratio at the time at 14.61. From this we can glean that short interest is 2.97% of company’s current outstanding shares. Notably, we see that shares short in October fall slightly given the previous month’s figure stood at 9.42 million. But the 36.36% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.