Wealth Enhancement Advisory Services LLC purchased a new position in TMC the metals company Inc. (NASDAQ:TMC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 42,681 shares of the company's stock, valued at approximately $73,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in TMC. Raymond James Financial Inc. bought a new position in TMC the metals in the 4th quarter worth approximately $28,000. Independent Advisor Alliance bought a new position in shares of TMC the metals during the 4th quarter valued at approximately $42,000. Gray Wealth Management Inc. boosted its position in shares of TMC the metals by 59.7% during the 4th quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company's stock valued at $27,000 after acquiring an additional 8,863 shares during the last quarter. Prudential Financial Inc. bought a new position in shares of TMC the metals during the 4th quarter valued at approximately $47,000. Finally, Old West Investment Management LLC boosted its position in shares of TMC the metals by 168.0% during 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 acquiring an additional 1,338,423 shares during the last quarter. 4.39% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other TMC the metals news, Director Brendan May sold 44,204 shares of the stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $7.38, for a total value of $326,225.52. Following the sale, the director owned 197,586 shares in the company, valued at $1,458,184.68. This trade represents a 18.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Anthony O'sullivan sold 164,317 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $4.49, for a total value of $737,783.33. Following the transaction, the insider owned 1,125,667 shares in the company, valued at approximately $5,054,244.83. This represents a 12.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 233,521 shares of company stock worth $1,259,009. Insiders own 28.50% of the company's stock.
Analyst Ratings Changes
TMC has been the subject of a number of research reports. Wedbush upgraded TMC the metals from a "neutral" rating to an "outperform" rating and increased their target price for the company from $6.00 to $11.00 in a research report on Wednesday, June 25th. HC Wainwright initiated coverage on TMC the metals in a research report on Tuesday, May 20th. They set a "buy" rating and a $5.50 target price for the company.
Read Our Latest Research Report on TMC the metals
TMC the metals Trading Down 4.1%
NASDAQ:TMC traded down $0.28 during midday trading on Friday, hitting $6.57. 8,012,204 shares of the company traded hands, compared to its average volume of 4,570,865. The firm's fifty day moving average is $4.95 and its 200-day moving average is $2.90. TMC the metals company Inc. has a 12-month low of $0.72 and a 12-month high of $8.12. The firm has a market capitalization of $2.38 billion, a P/E ratio of -28.56 and a beta of 1.57.
TMC the metals (NASDAQ:TMC - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). On average, research analysts expect that TMC the metals company Inc. will post -0.22 EPS for the current fiscal year.
TMC the metals Profile
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Free Report)
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.
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