Caitong International Asset Management Co. Ltd Purchases 24,493 Shares of TMC the metals company Inc. $TMC

Caitong International Asset Management Co. Ltd grew its position in TMC the metals company Inc. (NASDAQ:TMC) by 1,519.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 26,105 shares of the company’s stock after purchasing an additional 24,493 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in TMC the metals were worth $172,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC grew its holdings in TMC the metals by 11.9% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 37,868 shares of the company’s stock valued at $250,000 after buying an additional 4,023 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of TMC the metals in the second quarter valued at about $310,000. Corundum Group Inc. acquired a new position in shares of TMC the metals in the second quarter valued at about $69,000. James J. Burns & Company LLC bought a new position in TMC the metals during the second quarter worth about $211,000. Finally, Abacus Wealth Partners LLC increased its position in TMC the metals by 187.5% during the second quarter. Abacus Wealth Partners LLC now owns 92,000 shares of the company’s stock worth $607,000 after acquiring an additional 60,000 shares during the period. 4.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at TMC the metals

In other TMC the metals news, insider Erika Ilves sold 1,591,485 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $5.77, for a total value of $9,182,868.45. Following the sale, the insider owned 1,145,792 shares in the company, valued at approximately $6,611,219.84. The trade was a 58.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Anthony O’sullivan sold 250,000 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $5.25, for a total value of $1,312,500.00. Following the completion of the sale, the insider directly owned 1,125,667 shares of the company’s stock, valued at approximately $5,909,751.75. The trade was a 18.17% decrease in their position. The disclosure for this sale can be found here. Insiders own 27.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on TMC. HC Wainwright reissued a “buy” rating and issued a $7.25 price objective on shares of TMC the metals in a report on Monday, August 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of TMC the metals in a research report on Wednesday, October 8th. Finally, Zacks Research cut TMC the metals from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Three research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.33.

TMC the metals Stock Performance

TMC the metals stock opened at $7.15 on Friday. TMC the metals company Inc. has a 52 week low of $0.72 and a 52 week high of $11.35. The stock has a market capitalization of $2.91 billion, a P/E ratio of -19.32 and a beta of 1.70. The stock has a fifty day moving average of $6.49 and a 200-day moving average of $5.43.

TMC the metals (NASDAQ:TMC) last posted 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, research analysts forecast 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.