Short Interest in TMC the metals company Inc. (NASDAQ:TMC) Decreases By 50.4%

TMC the metals company Inc. (NASDAQ:TMCGet Rating) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 3,500,000 shares, a drop of 50.4% from the March 15th total of 7,060,000 shares. Based on an average daily volume of 5,860,000 shares, the short-interest ratio is currently 0.6 days. Approximately 5.7% of the company’s stock are sold short.

Separately, Piper Sandler cut their target price on shares of TMC the metals from $3.00 to $2.50 in a research report on Tuesday, January 11th.

NASDAQ:TMC opened at $1.98 on Friday. TMC the metals has a 12 month low of $1.15 and a 12 month high of $15.39. The company has a 50 day simple moving average of $2.01 and a two-hundred day simple moving average of $2.45.

In other news, CEO Gerard Barron purchased 23,000 shares of TMC the metals stock in a transaction that occurred on Wednesday, March 30th. The stock was bought at an average price of $2.19 per share, with a total value of $50,370.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew Hall purchased 28,000 shares of TMC the metals stock in a transaction that occurred on Wednesday, March 30th. The shares were purchased at an average cost of $2.13 per share, with a total value of $59,640.00. The disclosure for this purchase can be found here. Insiders have bought 66,000 shares of company stock valued at $137,010 over the last quarter.

A number of large investors have recently bought and sold shares of the business. Walleye Capital LLC bought a new stake in TMC the metals in the 4th quarter worth approximately $27,000. Virtu Financial LLC bought a new stake in shares of TMC the metals during the 4th quarter valued at $170,000. Toroso Investments LLC bought a new stake in shares of TMC the metals during the 4th quarter valued at $817,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of TMC the metals during the 4th quarter valued at $50,000. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of TMC the metals during the 4th quarter valued at $368,000. 67.41% of the stock is owned by institutional investors and hedge funds.

About TMC the metals (Get Rating)

TMC the metals company Inc engages in the exploration of battery-grade metals. It primarily explores for nickel sulfate, cobalt sulfate, copper, and manganese products. The company, through its subsidiaries, holds exploration rights in three polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean.

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