In a recent transaction on March 28, Anthony O'Sullivan, the Chief Development Officer of TMC the metals Co Inc. (NASDAQ:TMC), sold 50,000 shares of the company's stock. The sale was executed at an average price of $1.3348 per share, bringing the total value of the transaction to $66,740. According to the filed document, the shares were sold at prices ranging from $1.31 to $1.365 per share.
Following the sale, O'Sullivan's direct holdings in TMC the metals Co Inc. stood at 946,829 common shares. Additionally, it was noted that O'Sullivan is associated with JOZEM Pty Ltd., which acts as the trustee of The O'Sullivan Family Trust No. 1, holding an indirect interest in 385,110 common shares.
The transaction details, including the range of prices at which the shares were sold, were disclosed in compliance with regulatory requirements. The average selling price reflects the cumulative average of the transaction prices within the specified range.
Investors and interested parties can request detailed information from the company, including the number of shares sold at each specific price point, as undertaken by the reporting person in the filing. This sale represents a noteworthy change in the insider's stake in TMC the metals Co Inc., a company categorized under the Metal Mining sector.
InvestingPro Insights
In light of the recent insider transaction at TMC the metals Co Inc. (NASDAQ:TMC), it is noteworthy to consider the company's current financial health and market performance. According to InvestingPro data, TMC has a market capitalization of approximately $441.17 million, indicating its size within the Metal Mining sector. The stock's price-to-earnings (P/E) ratio stands at -5.59, with an adjusted P/E ratio for the last twelve months as of Q4 2023 at -6.17, reflecting the market's expectations of the company's future profitability.
InvestingPro Tips suggest that TMC's stock has experienced significant volatility, with a price total return of 72.52% over the last year, yet analysts do not anticipate the company will be profitable this year. The stock has also taken a notable hit over the last week, with a 1-week price total return of -7.74%. This volatility is an important consideration for investors looking at the effects of insider transactions on stock performance.
Furthermore, the company's Price / Book multiple as of the last twelve months stands at a high 41.71, which could suggest that the stock is currently valued at a premium compared to its book value. With short term obligations exceeding liquid assets, it's clear that TMC faces financial challenges that could impact its stock price and investment attractiveness.
For investors seeking a deeper analysis and more InvestingPro Tips like these, TMC's profile on Investing.com offers additional insights. There are 11 additional InvestingPro Tips available that could provide a more comprehensive understanding of the company's performance and prospects.
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