UBS Group AG Has $3.31 Million Stock Holdings in TMC the metals company Inc. $TMC

UBS Group AG cut its holdings in shares of TMC the metals company Inc. (NASDAQ:TMC) by 14.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 536,725 shares of the company’s stock after selling 94,032 shares during the period. UBS Group AG owned about 0.13% of TMC the metals worth $3,312,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. NewEdge Advisors LLC acquired a new position in shares of TMC the metals in the 2nd quarter worth approximately $28,000. Sunbelt Securities Inc. acquired a new position in shares of TMC the metals in the 3rd quarter worth approximately $34,000. Farther Finance Advisors LLC lifted its position in shares of TMC the metals by 465.8% in the 4th quarter. Farther Finance Advisors LLC now owns 5,686 shares of the company’s stock worth $35,000 after purchasing an additional 4,681 shares during the period. Quantbot Technologies LP acquired a new position in shares of TMC the metals in the 2nd quarter worth approximately $48,000. Finally, Main Street Research LLC acquired a new position in shares of TMC the metals in the 3rd quarter worth approximately $64,000. 4.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TMC. Wedbush boosted their price target on shares of TMC the metals from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Weiss Ratings restated a “sell (d-)” rating on shares of TMC the metals in a research report on Monday, April 20th. Finally, Wall Street Zen upgraded shares of TMC the metals from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, TMC the metals has a consensus rating of “Hold” and an average target price of $10.88.

TMC the metals Price Performance

NASDAQ:TMC opened at $5.40 on Monday. The company has a fifty day moving average of $5.17 and a 200-day moving average of $6.12. The firm has a market capitalization of $2.34 billion, a P/E ratio of -6.84 and a beta of 1.97. TMC the metals company Inc. has a twelve month low of $3.93 and a twelve month high of $11.35.

TMC the metals (NASDAQ:TMC) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. On average, analysts anticipate that TMC the metals company Inc. will post -0.31 EPS for the current fiscal year.

About TMC the metals

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. Its products are used in electric vehicles (EV), renewable energy storage markets, EV wiring, energy transmission, manganese alloy production required for steel production, and other applications.