TMC the metals (NASDAQ:TMC) Reaches New 1-Year High – What’s Next?

Shares of TMC the metals company Inc. (NASDAQ:TMC) hit a new 52-week high on Wednesday . The stock traded as high as $2.08 and last traded at $2.07, with a volume of 3724612 shares traded. The stock had previously closed at $1.88.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners assumed coverage on TMC the metals in a research report on Wednesday, January 15th. They set a “buy” rating and a $3.75 target price on the stock.

TMC the metals Stock Performance

The firm’s 50-day simple moving average is $1.33 and its two-hundred day simple moving average is $1.10.

Insider Activity

In related news, insider Erika Ilves sold 217,099 shares of TMC the metals stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $1.11, for a total transaction of $240,979.89. Following the completion of the sale, the insider now owns 998,170 shares of the company’s stock, valued at $1,107,968.70. The trade was a 17.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Craig Shesky sold 47,523 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $0.85, for a total value of $40,394.55. Following the completion of the sale, the chief financial officer now owns 977,844 shares in the company, valued at approximately $831,167.40. This represents a 4.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 30.00% of the company’s stock.

Institutional Trading of TMC the metals

Several institutional investors and hedge funds have recently bought and sold shares of the business. Tidal Investments LLC raised its holdings in shares of TMC the metals by 11.9% during the fourth quarter. Tidal Investments LLC now owns 542,938 shares of the company’s stock worth $608,000 after purchasing an additional 57,606 shares during the last quarter. Shay Capital LLC raised its stake in shares of TMC the metals by 965.6% during the 4th quarter. Shay Capital LLC now owns 932,404 shares of the company’s stock valued at $1,044,000 after buying an additional 844,904 shares during the last quarter. First Manhattan CO. LLC. lifted its holdings in shares of TMC the metals by 115.2% in the 4th quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company’s stock valued at $20,974,000 after buying an additional 10,025,000 shares during the period. Jane Street Group LLC boosted its stake in shares of TMC the metals by 7,330.9% in the fourth 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 last quarter. Finally, XTX Topco Ltd acquired a new stake in TMC the metals during the fourth quarter worth about $65,000. 4.39% of the stock is currently owned by institutional investors and hedge funds.

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.