Independent Advisor Alliance Makes New $42,000 Investment in TMC the metals company Inc. (NASDAQ:TMC)

Independent Advisor Alliance acquired a new position in shares of TMC the metals company Inc. (NASDAQ:TMC) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 37,665 shares of the company’s stock, valued at approximately $42,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in TMC the metals in the 4th quarter valued at about $28,000. Oppenheimer & Co. Inc. purchased a new position in TMC the metals in the 4th quarter valued at about $28,000. Virtu Financial LLC purchased a new position in TMC the metals in the 3rd quarter valued at about $44,000. SBI Securities Co. Ltd. purchased a new position in TMC the metals in the 4th quarter valued at about $94,000. Finally, Tidal Investments LLC grew its holdings in TMC the metals by 32.6% during the 3rd quarter. Tidal Investments LLC now owns 485,332 shares of the company’s stock worth $514,000 after acquiring an additional 119,335 shares in the last quarter. Institutional investors and hedge funds own 4.39% of the company’s stock.

TMC the metals Price Performance

Shares of TMC stock opened at $1.77 on Friday. The firm has a market cap of $573.95 million, a P/E ratio of -5.71 and a beta of 1.52. TMC the metals company Inc. has a 1-year low of $0.72 and a 1-year high of $2.55. The firm has a fifty day moving average of $1.72 and a two-hundred day moving average of $1.23.

Insider Buying and Selling at TMC the metals

In other TMC the metals news, insider Erika Ilves sold 217,099 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $1.11, for a total transaction of $240,979.89. Following the completion of the sale, the insider now owns 998,170 shares in the company, valued at $1,107,968.70. The trade was a 17.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 30.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners began coverage on shares of TMC the metals in a report on Wednesday, January 15th. They set a “buy” rating and a $3.75 price objective for the company.

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.