TMC the metals company Inc. (NASDAQ:TMCWW) Sees Large Drop in Short Interest

TMC the metals company Inc. (NASDAQ:TMCWW) saw a significant decline in short interest in June. As of June 15th, there was short interest totaling 14,629 shares, a decline of 46.7% from the May 31st total of 27,423 shares. Based on an average daily volume of 183,564 shares, the short-interest ratio is presently 0.1 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TMCWW. Virtu Financial LLC purchased a new stake in shares of TMC the metals during the fourth quarter valued at approximately $54,000. Meteora Capital LLC purchased a new position in TMC the metals in the 3rd quarter valued at approximately $55,000. Caption Management LLC bought a new stake in shares of TMC the metals during the 3rd quarter valued at $96,000. Wolverine Asset Management LLC increased its position in shares of TMC the metals by 253.1% during the fourth quarter. Wolverine Asset Management LLC now owns 84,457 shares of the company’s stock valued at $109,000 after buying an additional 60,539 shares during the period. Finally, Boothbay Fund Management LLC purchased a new stake in TMC the metals in the 4th quarter worth approximately $735,000.

TMC the metals Trading Down 10.6%

Shares of TMC the metals stock traded down $0.02 during trading on Thursday, reaching $0.13. The company’s stock had a trading volume of 209,795 shares, compared to its average volume of 191,214. TMC the metals has a 52 week low of $0.11 and a 52 week high of $3.84. The business’s 50-day moving average price is $0.30 and its 200-day moving average price is $0.78.

TMC the metals Company Profile

The Metals Company (NASDAQ: TMC; warrants: TMCWW) is a mineral exploration and development firm focused on sourcing critical battery metals from polymetallic nodules on the seafloor. Headquartered in Vancouver, British Columbia, the company holds exploration contracts granted by the International Seabed Authority in the Clarion-Clipperton Zone of the Pacific Ocean. Through its subsidiary, Nauru Ocean Resources Inc, The Metals Company is advancing a pipeline of deep-sea resources rich in nickel, cobalt, copper and manganese, crucial for electric vehicle batteries and grid-scale storage systems.

Founded through a reverse merger with SPAC NPV Acquisition Corp.