TMC the metals (NASDAQ:TMC) Shares Down 4.6% – Should You Sell?

TMC the metals company Inc. (NASDAQ:TMC) shares fell 4.6% during mid-day trading on Wednesday . The stock traded as low as $0.75 and last traded at $0.77. 3,768,736 shares traded hands during mid-day trading, an increase of 183% from the average session volume of 1,331,716 shares. The stock had previously closed at $0.80.

TMC the metals Trading Up 2.1 %

The stock has a market cap of $239.95 million, a PE ratio of -2.39 and a beta of 1.62. The business has a 50-day moving average price of $0.92 and a 200 day moving average price of $1.08.

Insider Buying and Selling at TMC the metals

In other news, Director Andrew Hall sold 66,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $0.93, for a total value of $61,380.00. Following the completion of the transaction, the director now directly owns 182,966 shares of the company’s stock, valued at $170,158.38. This trade represents a 26.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Craig Shesky sold 47,523 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $0.85, for a total value of $40,394.55. Following the sale, the chief financial officer now owns 977,844 shares in the company, valued at approximately $831,167.40. The trade was a 4.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 30.00% of the company’s stock.

Hedge Funds Weigh In On TMC the metals

A number of large investors have recently modified their holdings of TMC. Old West Investment Management LLC raised its holdings in shares of TMC the metals by 100.0% in the 3rd quarter. Old West Investment Management LLC now owns 1,593,230 shares of the company’s stock valued at $1,689,000 after acquiring an additional 796,615 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of TMC the metals by 32.6% during the third quarter. Tidal Investments LLC now owns 485,332 shares of the company’s stock worth $514,000 after purchasing an additional 119,335 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of TMC the metals in the third quarter worth approximately $44,000. 4.39% of the stock is currently owned by institutional investors.

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.