Baird Financial Group Inc. Sells 102,340 Shares of TMC the metals company Inc. (NASDAQ:TMC)

Baird Financial Group Inc. cut its position in TMC the metals company Inc. (NASDAQ:TMC - Free Report) by 4.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,179,860 shares of the company's stock after selling 102,340 shares during the quarter. Baird Financial Group Inc. owned 0.67% of TMC the metals worth $2,441,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TMC. Old West Investment Management LLC lifted its stake in 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 valued at $2,391,000 after purchasing an additional 1,338,423 shares during the last quarter. Jane Street Group LLC lifted its stake 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 valued at $1,507,000 after purchasing an additional 1,364,424 shares during the last quarter. Tidal Investments LLC lifted its stake in TMC the metals by 32.6% in the 3rd 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 during the last quarter. SBI Securities Co. Ltd. bought a new position in TMC the metals in the 4th quarter valued at approximately $94,000. Finally, XTX Topco Ltd bought a new position in TMC the metals in the 4th quarter valued at approximately $65,000. 4.39% of the stock is currently owned by institutional investors and hedge funds.

TMC the metals Stock Up 10.3%

NASDAQ TMC traded up $0.34 on Friday, hitting $3.64. The company's stock had a trading volume of 9,745,454 shares, compared to its average volume of 2,912,247. TMC the metals company Inc. has a 1-year low of $0.72 and a 1-year high of $3.80. The company's 50-day moving average is $2.41 and its 200 day moving average is $1.68. The firm has a market cap of $1.27 billion, a PE ratio of -11.74 and a beta of 1.33.

TMC the metals (NASDAQ:TMC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). On average, equities analysts expect that TMC the metals company Inc. will post -0.22 EPS for the current year.

Insider Buying and Selling at TMC the metals

In other news, CFO Craig Shesky sold 353,702 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $1.66, for a total value of $587,145.32. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 30.00% of the company's stock.

Analysts Set New Price Targets

Separately, Wedbush reissued a "neutral" rating and issued a $6.00 price objective on shares of TMC the metals in a research note on Friday.

TMC the metals 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.