SBI Securities Co. Ltd. Reduces Position in TMC the metals company Inc. $TMC

SBI Securities Co. Ltd. trimmed its position in TMC the metals company Inc. (NASDAQ:TMC) by 28.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 60,075 shares of the company’s stock after selling 23,938 shares during the period. SBI Securities Co. Ltd.’s holdings in TMC the metals were worth $396,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its position in TMC the metals by 48.0% during the 1st quarter. Allworth Financial LP now owns 14,796 shares of the company’s stock valued at $25,000 after buying an additional 4,796 shares during the period. Sprott Inc. bought a new position in shares of TMC the metals during the first quarter valued at about $26,000. Wolverine Asset Management LLC boosted its holdings in shares of TMC the metals by 752.6% during the second quarter. Wolverine Asset Management LLC now owns 4,945 shares of the company’s stock worth $33,000 after purchasing an additional 4,365 shares during the period. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of TMC the metals during the first quarter worth about $44,000. Finally, Abacus Wealth Partners LLC bought a new stake in shares of TMC the metals in the first quarter worth about $55,000. 4.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TMC the metals in a research report on Wednesday, October 8th. HC Wainwright boosted their target price on TMC the metals from $7.25 to $7.50 and gave the company a “buy” rating in a research note on Friday. Finally, Zacks Research lowered TMC the metals from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Three research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, TMC the metals currently has a consensus rating of “Hold” and an average target price of $7.42.

Insider Transactions at TMC the metals

In related news, insider Anthony O’sullivan sold 250,000 shares of TMC the metals stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $5.25, for a total transaction of $1,312,500.00. Following the completion of the transaction, the insider directly owned 1,125,667 shares of the company’s stock, valued at $5,909,751.75. This trade represents a 18.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Erika Ilves sold 1,591,485 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $5.77, for a total transaction of $9,182,868.45. Following the sale, the insider directly owned 1,145,792 shares in the company, valued at $6,611,219.84. The trade was a 58.14% decrease in their position. The disclosure for this sale is available in the SEC filing. 27.60% of the stock is owned by corporate insiders.

TMC the metals Stock Performance

TMC the metals stock opened at $5.08 on Friday. TMC the metals company Inc. has a fifty-two week low of $0.72 and a fifty-two week high of $11.35. The stock’s 50 day simple moving average is $6.84 and its two-hundred day simple moving average is $5.86. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of -6.60 and a beta of 1.71.

TMC the metals (NASDAQ:TMC) last released its earnings results on Thursday, August 14th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). On average, analysts predict that TMC the metals company Inc. will post -0.22 earnings per share for the current year.

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.