Shay Capital LLC Has $1.04 Million Holdings in TMC the metals company Inc. (NASDAQ:TMC)

Shay Capital LLC raised its stake in shares of TMC the metals company Inc. (NASDAQ:TMC) by 965.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 932,404 shares of the company’s stock after purchasing an additional 844,904 shares during the period. Shay Capital LLC owned 0.29% of TMC the metals worth $1,044,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TMC. Gray Wealth Management Inc. grew its position in shares of TMC the metals by 59.7% during the 4th quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company’s stock worth $27,000 after buying an additional 8,863 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of TMC the metals during the fourth quarter valued at about $28,000. Raymond James Financial Inc. bought a new stake in shares of TMC the metals during the fourth quarter worth about $28,000. Independent Advisor Alliance bought a new position in TMC the metals in the 4th quarter valued at about $42,000. Finally, Prudential Financial Inc. acquired a new position in TMC the metals during the 4th quarter valued at about $47,000. 4.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity at TMC the metals

In related news, CFO Craig Shesky sold 353,702 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $1.66, for a total transaction of $587,145.32. Following the completion of the transaction, the chief financial officer now directly owns 1,145,717 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 30.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

TMC the metals Stock Up 10.4%

TMC stock opened at $3.30 on Friday. The business has a 50 day moving average of $2.37 and a 200-day moving average of $1.65. The firm has a market cap of $1.15 billion, a PE ratio of -10.64 and a beta of 1.33. TMC the metals company Inc. has a 12-month low of $0.72 and a 12-month high of $3.80.

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