Alliance Global Partners Initiates Coverage on TMC the metals (NASDAQ:TMC)

Alliance Global Partners began coverage on shares of TMC the metals (NASDAQ:TMC) in a research report report published on Wednesday, MarketBeat Ratings reports. The firm issued a buy rating and a $3.75 price target on the stock.

TMC the metals Stock Performance

NASDAQ:TMC opened at $1.30 on Wednesday. The business has a 50 day moving average of $0.94 and a 200 day moving average of $1.04. TMC the metals has a 1-year low of $0.72 and a 1-year high of $2.07.

Insiders Place Their Bets

In other news, insider Erika Ilves sold 217,099 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $1.11, for a total transaction of $240,979.89. Following the transaction, the insider now directly owns 998,170 shares of the company’s stock, valued at approximately $1,107,968.70. The trade was a 17.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew Hall sold 66,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $0.93, for a total value of $61,380.00. Following the transaction, the director now directly owns 182,966 shares in the company, valued at $170,158.38. This trade represents a 26.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 330,622 shares of company stock valued at $342,754 in the last ninety days. Company insiders own 30.00% of the company’s stock.

Hedge Funds Weigh In On TMC the metals

Several hedge funds have recently made changes to their positions in the business. Virtu Financial LLC purchased a new position in shares of TMC the metals during the third quarter valued at approximately $44,000. Tidal Investments LLC boosted its position in shares of TMC the metals by 32.6% during the third quarter. Tidal Investments LLC now owns 485,332 shares of the company’s stock valued at $514,000 after purchasing an additional 119,335 shares in the last quarter. Finally, Old West Investment Management LLC boosted its position in shares of TMC the metals by 100.0% during the third quarter. Old West Investment Management LLC now owns 1,593,230 shares of the company’s stock valued at $1,689,000 after purchasing an additional 796,615 shares in the last quarter. 4.39% of the stock is owned by hedge funds and other institutional investors.

About TMC the metals

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.