TMC the metals (NASDAQ:TMC) Trading Down 6.4% – Time to Sell?

TMC the metals company Inc. (NASDAQ:TMC)’s share price traded down 6.4% during mid-day trading on Wednesday . The company traded as low as $1.71 and last traded at $1.68. 213,815 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 1,609,705 shares. The stock had previously closed at $1.79.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners started coverage on shares of TMC the metals in a report on Wednesday, January 15th. They set a “buy” rating and a $3.75 target price on the stock.

TMC the metals Stock Up 2.4 %

The stock has a market cap of $551.25 million, a PE ratio of -5.48 and a beta of 1.52. The company has a fifty day moving average price of $1.78 and a 200 day moving average price of $1.26.

Insiders Place Their Bets

In other TMC the metals news, insider Erika Ilves sold 217,099 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $1.11, for a total transaction of $240,979.89. Following the completion of the sale, the insider now owns 998,170 shares of the company’s stock, valued at $1,107,968.70. This represents a 17.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 30.00% of the company’s stock.

Hedge Funds Weigh In On TMC the metals

Several hedge funds and other institutional investors have recently modified their holdings of the company. Tidal Investments LLC grew its stake in shares of TMC the metals by 11.9% in the fourth quarter. Tidal Investments LLC now owns 542,938 shares of the company’s stock worth $608,000 after purchasing an additional 57,606 shares during the last quarter. Shay Capital LLC lifted its holdings in TMC the metals by 965.6% in the 4th quarter. Shay Capital LLC now owns 932,404 shares of the company’s stock worth $1,044,000 after buying an additional 844,904 shares during the period. First Manhattan CO. LLC. grew its position in shares of TMC the metals by 115.2% in the 4th quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company’s stock worth $20,974,000 after buying an additional 10,025,000 shares during the last quarter. Jane Street Group LLC increased its stake in shares of TMC the metals by 7,330.9% during the fourth quarter. Jane Street Group LLC now owns 1,345,812 shares of the company’s stock valued at $1,507,000 after buying an additional 1,364,424 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of TMC the metals during the fourth quarter valued at approximately $65,000. 4.39% of the stock is owned by institutional investors.

TMC the metals Company Profile

TMC the metals company Inc, a deep-sea minerals exploration company, focuses on the collection, processing, and refining of polymetallic nodules found on the seafloor in California. It primarily explores for nickel, cobalt, copper, and manganese products. The company holds exploration and commercial rights in three polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean.