Insider Buying: TMC the metals company Inc. (NASDAQ:TMC) Director Buys 25,000 Shares of Stock

TMC the metals company Inc. (NASDAQ:TMC) Director Brendan May purchased 25,000 shares of the stock in a transaction dated Tuesday, December 24th. The shares were bought at an average cost of $0.87 per share, for a total transaction of $21,750.00. Following the completion of the purchase, the director now owns 100,040 shares in the company, valued at approximately $87,034.80. This trade represents a 33.32 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

TMC the metals Price Performance

Shares of TMC stock traded up $0.22 during midday trading on Friday, reaching $1.10. 7,594,426 shares of the company traded hands, compared to its average volume of 1,362,364. TMC the metals company Inc. has a 1-year low of $0.72 and a 1-year high of $2.07. The firm has a market cap of $356.69 million, a PE ratio of -3.55 and a beta of 1.62. The firm’s 50 day simple moving average is $0.91 and its two-hundred day simple moving average is $1.07.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TMC. Old West Investment Management LLC raised its holdings in shares of 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 acquiring an additional 796,615 shares during the last quarter. Virtu Financial LLC acquired a new position in TMC the metals in the 3rd quarter valued at about $44,000. Finally, Tidal Investments LLC lifted its holdings in TMC the metals by 32.6% in the 3rd quarter. Tidal Investments LLC now owns 485,332 shares of the company’s stock valued at $514,000 after purchasing an additional 119,335 shares in the last quarter. Hedge funds and other institutional investors own 4.39% of the company’s stock.

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.