Insider Selling: TMC the metals company Inc. (NASDAQ:TMC) CFO Sells 353,702 Shares of Stock

TMC the metals company Inc. (NASDAQ:TMC) CFO Craig Shesky sold 353,702 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $1.66, for a total transaction of $587,145.32. Following the completion of the sale, the chief financial officer now directly owns 1,145,717 shares of the company’s stock, valued at approximately $1,901,890.22. This represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

TMC the metals Trading Up 14.5 %

TMC stock traded up $0.24 on Wednesday, hitting $1.90. The company had a trading volume of 2,812,040 shares, compared to its average volume of 1,696,230. TMC the metals company Inc. has a 12-month low of $0.72 and a 12-month high of $2.55. The stock has a market cap of $616.10 million, a price-to-earnings ratio of -6.13 and a beta of 1.52. The stock’s 50-day simple moving average is $1.78 and its 200 day simple moving average is $1.28.

TMC the metals (NASDAQ:TMC) last released its quarterly earnings results on Thursday, March 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. The firm had revenue of ($20.18) million during the quarter. Research analysts forecast that TMC the metals company Inc. will post -0.22 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on TMC. Alliance Global Partners initiated coverage on shares of TMC the metals in a report on Wednesday, January 15th. They issued a “buy” rating and a $3.75 price objective on the stock. Wedbush restated a “neutral” rating and issued a $4.00 price target on shares of TMC the metals in a research note on Friday, March 28th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. First Manhattan CO. LLC. raised its position in TMC the metals by 115.2% in the fourth quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company’s stock worth $20,974,000 after acquiring an additional 10,025,000 shares during the period. Old West Investment Management LLC increased its stake in shares of TMC the metals by 168.0% in the 4th quarter. Old West Investment Management LLC now owns 2,135,038 shares of the company’s stock worth $2,391,000 after purchasing an additional 1,338,423 shares in the last quarter. Jane Street Group LLC raised its holdings in TMC the metals by 7,330.9% in the 4th quarter. Jane Street Group LLC now owns 1,345,812 shares of the company’s stock worth $1,507,000 after purchasing an additional 1,364,424 shares during the period. Shay Capital LLC lifted its position in TMC the metals by 965.6% during the fourth quarter. Shay Capital LLC now owns 932,404 shares of the company’s stock valued at $1,044,000 after purchasing an additional 844,904 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in TMC the metals by 11.9% during the fourth quarter. Tidal Investments LLC now owns 542,938 shares of the company’s stock valued at $608,000 after purchasing an additional 57,606 shares during the period. 4.39% of the stock is owned by hedge funds and other 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.