Insider Selling: TMC the metals company Inc. (NASDAQ:TMC) Insider Sells 217,099 Shares of Stock

TMC the metals company Inc. (NASDAQ:TMC) insider Erika Ilves sold 217,099 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $1.11, for a total value of $240,979.89. Following the transaction, the insider now owns 998,170 shares in the company, valued at approximately $1,107,968.70. This represents a 17.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

TMC the metals Stock Performance

Shares of TMC stock opened at $1.25 on Friday. The firm has a market cap of $405.33 million, a P/E ratio of -4.03 and a beta of 1.62. The business’s 50 day moving average price is $0.92 and its 200-day moving average price is $1.06. TMC the metals company Inc. has a fifty-two week low of $0.72 and a fifty-two week high of $2.07.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC lifted its position in shares of TMC the metals by 32.6% in the 3rd quarter. Tidal Investments LLC now owns 485,332 shares of the company’s stock worth $514,000 after purchasing an additional 119,335 shares during the period. Virtu Financial LLC bought a new position in TMC the metals in the third quarter worth about $44,000. Finally, Old West Investment Management LLC lifted its holdings in TMC the metals by 100.0% in the third quarter. Old West Investment Management LLC now owns 1,593,230 shares of the company’s stock worth $1,689,000 after buying an additional 796,615 shares during the period. 4.39% of the stock is owned by hedge funds and other institutional investors.

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.