Summit Trail Advisors LLC Has $29,000 Stock Holdings in TMC the metals company Inc. (NASDAQ:TMC)

Summit Trail Advisors LLC lowered its stake in shares of TMC the metals company Inc. (NASDAQ:TMC) by 50.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 17,000 shares of the company’s stock after selling 17,000 shares during the quarter. Summit Trail Advisors LLC’s holdings in TMC the metals were worth $29,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. First Manhattan CO. LLC. raised its position in shares of TMC the metals by 115.2% during the fourth quarter. First Manhattan CO. LLC. now owns 18,726,800 shares of the company’s stock worth $20,974,000 after purchasing an additional 10,025,000 shares during the period. Old West Investment Management LLC increased its stake in TMC the metals by 168.0% during the 4th quarter. Old West Investment Management LLC now owns 2,135,038 shares of the company’s stock valued at $2,391,000 after purchasing an additional 1,338,423 shares in the last quarter. Jane Street Group LLC lifted 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 valued at $1,507,000 after buying an additional 1,364,424 shares in the last quarter. Shay Capital LLC lifted its stake 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 buying an additional 844,904 shares in the last quarter. Finally, Tidal Investments LLC grew 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 valued at $608,000 after buying an additional 57,606 shares during the last quarter. Institutional investors and hedge funds own 4.39% of the company’s stock.

Analysts Set New Price Targets

TMC has been the topic of a number of analyst reports. HC Wainwright initiated coverage on shares of TMC the metals in a report on Tuesday, May 20th. They issued a “buy” rating and a $5.50 target price on the stock. Wedbush raised TMC the metals from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $6.00 to $11.00 in a report on Wednesday, June 25th.

Insider Activity

In related news, Director Brendan May sold 44,204 shares of TMC the metals stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $7.38, for a total transaction of $326,225.52. Following the sale, the director directly owned 197,586 shares in the company, valued at approximately $1,458,184.68. This trade represents a 18.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anthony O’sullivan sold 164,317 shares of the business’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $4.49, for a total value of $737,783.33. Following the completion of the transaction, the insider directly owned 1,125,667 shares in the company, valued at approximately $5,054,244.83. This represents a 12.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 233,521 shares of company stock valued at $1,259,009. Company insiders own 28.50% of the company’s stock.

TMC the metals Trading Up 11.9%

Shares of NASDAQ:TMC opened at $7.14 on Friday. The stock has a market cap of $2.59 billion, a PE ratio of -31.04 and a beta of 1.57. The stock’s fifty day simple moving average is $4.60 and its two-hundred day simple moving average is $2.70. TMC the metals company Inc. has a 1-year low of $0.72 and a 1-year high of $8.12.

TMC the metals (NASDAQ:TMC) last released its quarterly 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, sell-side analysts forecast that TMC the metals company Inc. will post -0.22 earnings per share for the current fiscal year.

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.