Independent Advisor Alliance Makes New Investment in TMC the metals company Inc. (NASDAQ:TMC)

Independent Advisor Alliance purchased a new position in shares of TMC the metals company Inc. (NASDAQ:TMC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 37,665 shares of the company’s stock, valued at approximately $42,000.

Several other hedge funds also recently bought and sold shares of the stock. Oppenheimer & Co. Inc. acquired a new stake in TMC the metals in the 4th quarter worth about $28,000. Tidal Investments LLC increased its stake in shares of TMC the metals by 32.6% during the 3rd quarter. Tidal Investments LLC now owns 485,332 shares of the company’s stock valued at $514,000 after acquiring an additional 119,335 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of TMC the metals during the 3rd quarter valued at about $44,000. SBI Securities Co. Ltd. acquired a new position in shares of TMC the metals during the 4th quarter valued at about $94,000. Finally, Raymond James Financial Inc. acquired a new position in shares of TMC the metals during the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 4.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners started coverage on shares of TMC the metals in a research note on Wednesday, January 15th. They set a “buy” rating and a $3.75 price objective for the company.

Insider Transactions at TMC the metals

In other news, insider Erika Ilves sold 217,099 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $1.11, for a total value of $240,979.89. Following the transaction, the insider now directly owns 998,170 shares in the company, valued at $1,107,968.70. This trade represents a 17.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 30.00% of the company’s stock.

TMC the metals Price Performance

TMC the metals stock opened at $1.77 on Friday. The stock’s 50-day moving average is $1.72 and its 200-day moving average is $1.23. The company has a market cap of $573.95 million, a price-to-earnings ratio of -5.71 and a beta of 1.52. TMC the metals company Inc. has a 12 month low of $0.72 and a 12 month high of $2.55.

TMC the metals 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.