Tidal Investments LLC Purchases 57,606 Shares of TMC the metals company Inc. (NASDAQ:TMC)

Tidal Investments LLC raised its stake in TMC the metals company Inc. (NASDAQ:TMC - Free Report) by 11.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 542,938 shares of the company's stock after acquiring an additional 57,606 shares during the period. Tidal Investments LLC owned about 0.17% of TMC the metals worth $608,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TMC. First Manhattan CO. LLC. raised its stake in shares of 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 valued at $20,974,000 after acquiring an additional 10,025,000 shares during the last quarter. Old West Investment Management LLC lifted its stake in TMC the metals by 168.0% in the fourth quarter. Old West Investment Management LLC now owns 2,135,038 shares of the company's stock valued at $2,391,000 after buying an additional 1,338,423 shares during the period. Jane Street Group LLC grew its position in shares of TMC the metals by 7,330.9% during the 4th quarter. Jane Street Group LLC now owns 1,345,812 shares of the company's stock worth $1,507,000 after buying an additional 1,364,424 shares during the period. Shay Capital LLC increased its stake in shares of TMC the metals by 965.6% in the 4th quarter. Shay Capital LLC now owns 932,404 shares of the company's stock valued at $1,044,000 after acquiring an additional 844,904 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of TMC the metals in the 4th quarter valued at approximately $94,000. 4.39% of the stock is currently owned by institutional investors and hedge funds.

TMC the metals Price Performance

Shares of TMC the metals stock traded up $0.14 during trading hours on Friday, hitting $4.49. The company's stock had a trading volume of 8,772,924 shares, compared to its average volume of 3,310,956. The company has a market capitalization of $1.56 billion, a PE ratio of -14.48 and a beta of 1.33. The stock has a 50 day moving average of $2.89 and a 200 day moving average of $1.89. TMC the metals company Inc. has a 12 month low of $0.72 and a 12 month high of $5.16.

TMC the metals (NASDAQ:TMC - Get Free Report) last issued its quarterly earnings data 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). Equities analysts expect that TMC the metals company Inc. will post -0.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TMC. Wedbush restated a "neutral" rating and set a $6.00 price objective on shares of TMC the metals in a report on Friday, May 16th. HC Wainwright initiated coverage on shares of TMC the metals in a research report on Tuesday, May 20th. They set a "buy" rating and a $5.50 price target on the stock.

Insider Activity at TMC the metals

In other news, CFO Craig Shesky sold 353,702 shares of TMC the metals stock in a transaction that occurred 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 in the company, valued at $1,901,890.22. This trade represents a 23.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anthony O'sullivan sold 164,317 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $4.49, for a total value of $737,783.33. Following the completion of the transaction, the insider now owns 1,125,667 shares of the company's stock, valued at $5,054,244.83. The trade was a 12.74% decrease in their position. The disclosure for this sale can be found here. 30.00% of the stock is currently owned by insiders.

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.