Shay Capital LLC Grows Holdings in TMC the metals company Inc. (NASDAQ:TMC)

Shay Capital LLC lifted its stake in shares of TMC the metals company Inc. (NASDAQ:TMC) by 965.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 932,404 shares of the company’s stock after acquiring an additional 844,904 shares during the period. Shay Capital LLC’s holdings in TMC the metals were worth $1,044,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. purchased a new position in shares of TMC the metals during the fourth quarter valued at approximately $28,000. SBI Securities Co. Ltd. purchased a new stake in TMC the metals in the fourth quarter worth about $94,000. Raymond James Financial Inc. purchased a new position in shares of TMC the metals during the 4th quarter worth approximately $28,000. Independent Advisor Alliance bought a new position in shares of TMC the metals in the 4th quarter worth approximately $42,000. Finally, Gray Wealth Management Inc. boosted its position in shares of TMC the metals by 59.7% during the fourth quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company’s stock valued at $27,000 after purchasing an additional 8,863 shares in the last quarter. 4.39% of the stock is currently owned by hedge funds and other institutional investors.

TMC the metals Stock Performance

TMC stock opened at $3.30 on Friday. The firm has a 50 day moving average price of $2.37 and a 200-day moving average price of $1.65. TMC the metals company Inc. has a 52-week low of $0.72 and a 52-week high of $3.80. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -10.64 and a beta of 1.33.

TMC the metals (NASDAQ:TMC) last issued its earnings results on Wednesday, May 14th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). As a group, sell-side analysts forecast that TMC the metals company Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at TMC the metals

In related news, CFO Craig Shesky sold 353,702 shares of TMC the metals stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $1.66, for a total transaction of $587,145.32. Following the transaction, the chief financial officer now owns 1,145,717 shares in the company, valued at approximately $1,901,890.22. The trade was a 23.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 30.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wedbush reissued a “neutral” rating and set a $4.00 price objective on shares of TMC the metals in a research report on Friday, March 28th.

TMC the metals 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.