TMC the metals company Inc (NASDAQ: TMC)’s Share Price Jumped 10.13%, What’s Next? Heres Is A Hint: Don’t Be Too Excited

TMC the metals company Inc (NASDAQ:TMC) shares, rose in value, with the stock price up by 10.13% to the previous day’s close as strong demand from buyers drove the stock to $1.74.

Actively observing the price movement in the last trading, the stock closed the session at $1.58. The value of beta (5-year monthly) was 1.82. Referring to stock’s 52-week performance, its high was $3.20, and the low was $0.65. On the whole, TMC has fluctuated by 23.40% over the past month.

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With the market capitalization of TMC the metals company Inc currently standing at about $553.76 million, investors are eagerly awaiting this quarter’s results, scheduled for May 09, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.05, which is expected to increase to -$0.05 for fiscal year -$0.14 and then to about -$0.09 by fiscal year 2025. Data indicates that the EPS growth is expected to be 46.20% in 2025, while the next year’s EPS growth is forecast to be 35.70%.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that TMC’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of TMC currently trading nearly 9.62% and 22.56% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 60.26, while the 7-day volatility ratio is showing 12.24% which for the 30-day chart, stands at 12.24%. Furthermore, TMC the metals company Inc (TMC)’s beta value is 1.78, and its average true range (ATR) is 0.17.

A comparison of TMC the metals company Inc (TMC) with its peers suggests the former has fared considerably weaker in the market. TMC showed an intraday change of 10.13% in last session, and over the past year, it grew by 109.92%%.

Data on historical trading for TMC the metals company Inc (NASDAQ:TMC) indicates that the trading volumes over the past 10 days have averaged 3.3 million and over the past 3 months, they’ve averaged 1.98 million. According to company’s latest data on outstanding shares, there are 306.56 million shares outstanding.

Nearly 65.60% of TMC the metals company Inc’s shares belong to company insiders and institutional investors own 4.30% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 7.87 million shares as on Mar 15, 2024, resulting in a short ratio of 3.77. According to the data, the short interest in TMC the metals company Inc (TMC) stood at 2.57% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 8.67 million. The stock has risen by 58.18% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the TMC stock heading into the next quarter.