35,617 Shares in TMC the metals company Inc. (NASDAQ:TMC) Bought by Parallel Advisors LLC

Parallel Advisors LLC acquired a new stake in TMC the metals company Inc. (NASDAQ:TMC) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 35,617 shares of the company’s stock, valued at approximately $61,000.

A number of other hedge funds have also recently modified their holdings of TMC. First Manhattan CO. LLC. increased its position 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 period. Jane Street Group LLC increased its position 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 valued at $1,507,000 after acquiring an additional 1,364,424 shares during the period. Old West Investment Management LLC increased its position in shares of 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 acquiring an additional 1,338,423 shares during the period. Shay Capital LLC increased its position in shares of TMC the metals by 965.6% in the fourth 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 period. Finally, SBI Securities Co. Ltd. bought a new stake in shares of TMC the metals during the 4th quarter valued at about $94,000. Hedge funds and other institutional investors own 4.39% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TMC. HC Wainwright began coverage on shares of TMC the metals in a research note on Tuesday, May 20th. They set a “buy” rating and a $5.50 target price on the stock. Wedbush reaffirmed a “neutral” rating and set a $6.00 target price on shares of TMC the metals in a research note on Friday, May 16th.

Insider Buying and Selling

In related news, CFO Craig Shesky sold 353,702 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $1.66, for a total transaction of $587,145.32. Following the sale, the chief financial officer now owns 1,145,717 shares of the company’s stock, valued at $1,901,890.22. The trade was a 23.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Anthony O’sullivan sold 164,317 shares of the business’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $4.49, for a total transaction of $737,783.33. Following the sale, the insider now directly owns 1,125,667 shares in the company, 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. 28.50% of the stock is currently owned by insiders.

TMC the metals Trading Up 0.5%

Shares of TMC opened at $4.10 on Monday. The firm’s 50-day moving average price is $3.19 and its 200-day moving average price is $2.04. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -13.23 and a beta of 1.46. TMC the metals company Inc. has a 1-year low of $0.72 and a 1-year high of $5.16.

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

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.