In recent trading activity, Anthony O'Sullivan, the Chief Development Officer of TMC the metals Co Inc. (NASDAQ:TMC), sold a significant number of shares in the company. The transactions, which occurred over a span of three days, resulted in the sale of 100,000 common shares, totaling over $141,850.
On May 21, O'Sullivan sold 50,000 shares at an average price of $1.3948 per share, with the price range for these transactions being between $1.38 and $1.42. The following day, an additional 25,000 shares were sold at an average price of $1.4044, with sales conducted at prices ranging from $1.365 to $1.44 per share. The selling spree concluded on May 23, with 25,000 shares being sold at an average price of $1.48, in a price range from $1.42 to $1.525.
The sales were made to cover the income tax associated with restricted stock units granted to O'Sullivan on March 20, 2024, as noted in the filings. Following these transactions, O'Sullivan's direct ownership in the company stands at 846,829 common shares. Additionally, O'Sullivan is associated with indirect ownership through JOZEM Pty Ltd., which is the trustee of The O'Sullivan Family Trust No. 1, holding 385,110 common shares.
Investors often monitor insider transactions as they can provide insights into the executive's view of the company's current valuation and future prospects. The details of these transactions are publicly disclosed as per regulatory requirements, providing transparency to the market.
InvestingPro Insights
Following the recent insider trading activity at TMC the metals Co Inc. (NASDAQ:TMC), investors and market analysts might be seeking more context on the company's financial health and stock performance. Here are some key metrics and insights from InvestingPro that could shed light on TMC's current market position:
- The company's Market Cap stands at approximately 487.18 million USD, reflecting its valuation in the market as of the last trading session.
- TMC has demonstrated a significant return over the last week, with a 1 Week Price Total Return of 10.14%, indicating a positive short-term performance that investors might find encouraging.
- Despite not having a positive P/E Ratio, with an adjusted P/E Ratio for the last twelve months as of Q1 2024 at -5.72, TMC has seen a high return over the last year, with a 1 Year Price Total Return of 112.2%. This suggests a strong performance over a longer period, which could be of interest to investors looking at past growth trajectories.
InvestingPro Tips reveal that while TMC has been experiencing volatile stock price movements and suffers from weak gross profit margins, the company also faces the challenge of short-term obligations exceeding its liquid assets. Moreover, analysts do not anticipate TMC to be profitable this year, and the company does not pay a dividend to shareholders. With these factors in mind, potential investors should consider the risks associated with TMC's financial stability and future earnings potential.
For those looking for more comprehensive analysis and additional InvestingPro Tips, there are 9 more tips available on the company's profile on InvestingPro. To gain access to these insights and more, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. This could be a valuable tool for investors seeking to make informed decisions based on real-time data and expert analysis.
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