XTX Topco Ltd Purchases 112,075 Shares of TMC the metals company Inc. (NASDAQ:TMC)

XTX Topco Ltd boosted its position in TMC the metals company Inc. (NASDAQ:TMC - Free Report) by 193.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 170,004 shares of the company's stock after purchasing an additional 112,075 shares during the quarter. XTX Topco Ltd's holdings in TMC the metals were worth $292,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in TMC. Allworth Financial LP boosted its stake in TMC the metals by 48.0% during the 1st quarter. Allworth Financial LP now owns 14,796 shares of the company's stock valued at $25,000 after acquiring an additional 4,796 shares during the last quarter. Raymond James Financial Inc. bought a new position in TMC the metals during the 4th quarter valued at $28,000. Concurrent Investment Advisors LLC bought a new position in TMC the metals during the 1st quarter valued at $58,000. Parallel Advisors LLC bought a new position in TMC the metals during the 1st quarter valued at $61,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in TMC the metals during the 1st quarter valued at $73,000. Institutional investors and hedge funds own 4.39% of the company's stock.

Insider Buying and Selling at TMC the metals

In other news, Director Brendan May sold 44,204 shares of the stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $7.38, for a total value of $326,225.52. Following the completion of the sale, the director directly owned 197,586 shares of the company's stock, valued at $1,458,184.68. This represents a 18.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anthony O'sullivan sold 164,317 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $4.49, for a total transaction of $737,783.33. Following the completion of the sale, the insider directly owned 1,125,667 shares of the company's stock, valued at $5,054,244.83. This trade represents a 12.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 233,521 shares of company stock valued at $1,259,009. Insiders own 27.60% of the company's stock.

TMC the metals Price Performance

NASDAQ:TMC traded down $0.04 during midday trading on Tuesday, reaching $5.31. 4,619,965 shares of the company traded hands, compared to its average volume of 12,313,516. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of -23.09 and a beta of 1.59. TMC the metals company Inc. has a twelve month low of $0.72 and a twelve month high of $8.63. The company has a fifty day moving average price of $6.24 and a 200 day moving average price of $3.77.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. HC Wainwright raised their price objective on TMC the metals from $5.50 to $7.25 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Wedbush upgraded TMC the metals from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $6.00 to $11.00 in a research note on Wednesday, June 25th.

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.