Advisory Services Network LLC Sells 5,900 Shares of TMC the metals company Inc. (NASDAQ:TMC)

Advisory Services Network LLC lowered its holdings in shares of TMC the metals company Inc. (NASDAQ:TMC) by 12.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,000 shares of the company’s stock after selling 5,900 shares during the quarter. Advisory Services Network LLC’s holdings in TMC the metals were worth $45,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of TMC. Old West Investment Management LLC grew its holdings in TMC the metals by 168.0% during the fourth 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 during the last quarter. Prudential Financial Inc. acquired a new position in TMC the metals in the 4th quarter valued at $47,000. Gray Wealth Management Inc. raised its holdings in TMC the metals by 59.7% in the 4th quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company’s stock worth $27,000 after acquiring an additional 8,863 shares during the period. Independent Advisor Alliance acquired a new position in TMC the metals during the 4th quarter worth $42,000. Finally, Raymond James Financial Inc. bought a new stake in TMC the metals during the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 4.39% of the company’s stock.

Analyst Ratings Changes

TMC has been the subject of several research analyst reports. Alliance Global Partners initiated coverage on TMC the metals in a research report on Wednesday, January 15th. They set a “buy” rating and a $3.75 price objective for the company. Wedbush reissued a “neutral” rating and issued a $4.00 price target on shares of TMC the metals in a report on Friday, March 28th.

TMC the metals Stock Performance

NASDAQ:TMC opened at $2.96 on Friday. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -9.55 and a beta of 1.46. TMC the metals company Inc. has a 52 week low of $0.72 and a 52 week high of $3.57. The company has a 50-day moving average of $1.93 and a 200-day moving average of $1.39.

TMC the metals (NASDAQ:TMC) last issued its quarterly earnings data on Thursday, March 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The company had revenue of ($20.18) million for the quarter. Sell-side analysts forecast that TMC the metals company Inc. will post -0.22 EPS for the current year.

Insiders Place Their Bets

In other TMC the metals news, CFO Craig Shesky sold 353,702 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $1.66, for a total transaction of $587,145.32. Following the sale, the chief financial officer now owns 1,145,717 shares of the company’s stock, valued at $1,901,890.22. This represents a 23.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 30.00% of the company’s stock.

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.