Renaissance Technologies LLC Invests $3.41 Million in TMC the metals company Inc. $TMC

Renaissance Technologies LLC acquired a new stake in TMC the metals company Inc. (NASDAQ:TMC) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 730,000 shares of the company’s stock, valued at approximately $3,409,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TMC. GSA Capital Partners LLP increased its stake in TMC the metals by 123.8% in the fourth quarter. GSA Capital Partners LLP now owns 220,510 shares of the company’s stock valued at $1,361,000 after purchasing an additional 121,961 shares during the last quarter. SLT Holdings LLC purchased a new stake in shares of TMC the metals during the 4th quarter worth approximately $1,223,000. Encompass Capital Advisors LLC purchased a new stake in shares of TMC the metals during the 4th quarter worth approximately $18,510,000. WINTON GROUP Ltd purchased a new stake in shares of TMC the metals during the 4th quarter worth approximately $947,000. Finally, Foundations Investment Advisors LLC acquired a new position in shares of TMC the metals in the 4th quarter valued at $1,226,000. Institutional investors and hedge funds own 4.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wall Street Zen raised shares of TMC the metals from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. HC Wainwright reissued a “buy” rating and issued a $11.75 price target on shares of TMC the metals in a research report on Tuesday, June 2nd. Wedbush upped their price objective on shares of TMC the metals from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TMC the metals in a report on Friday, July 17th. Finally, Maxim Group assumed coverage on TMC the metals in a research report on Thursday, June 4th. They set a “buy” rating and a $10.00 target price on the stock. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, TMC the metals has an average rating of “Hold” and an average target price of $10.58.

TMC the metals Trading Up 10.9%

Shares of TMC stock opened at $4.57 on Friday. The business’s 50 day moving average is $4.48 and its two-hundred day moving average is $5.35. TMC the metals company Inc. has a twelve month low of $3.40 and a twelve month high of $11.35. The company has a market capitalization of $1.98 billion, a P/E ratio of -5.78 and a beta of 2.06.

TMC the metals (NASDAQ:TMC) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01. As a group, equities analysts predict that TMC the metals company Inc. will post -0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TMC the metals news, Director Brendan May sold 20,768 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $6.42, for a total value of $133,330.56. Following the transaction, the director directly owned 193,346 shares of the company’s stock, valued at approximately $1,241,281.32. The trade was a 9.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 28.50% of the stock is currently owned by company insiders.

TMC the metals Company 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. Its products are used in electric vehicles (EV), renewable energy storage markets, EV wiring, energy transmission, manganese alloy production required for steel production, and other applications.