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

TMC the metals company Inc. (NASDAQ:TMCWW) was the target of a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 24,647 shares, a drop of 84.1% from the July 30th total of 154,563 shares. Based on an average daily volume of 537,581 shares, the days-to-cover ratio is presently 0.0 days.

TMC the metals Stock Down 33.3%

Shares of TMCWW traded down $0.00 during mid-day trading on Friday, hitting $0.01. 1,327,496 shares of the company were exchanged, compared to its average volume of 231,061. TMC the metals has a 1-year low of $0.01 and a 1-year high of $3.84. The company has a 50 day moving average of $0.07 and a 200-day moving average of $0.36.

Hedge Funds Weigh In On TMC the metals

A number of hedge funds have recently made changes to their positions in the company. Caption Management LLC boosted its stake in shares of TMC the metals by 843.1% in the fourth quarter. Caption Management LLC now owns 860,671 shares of the company’s stock worth $1,110,000 after acquiring an additional 769,410 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in TMC the metals in the 4th quarter valued at $735,000. Wolverine Asset Management LLC lifted its holdings in TMC the metals by 253.1% in the 4th quarter. Wolverine Asset Management LLC now owns 84,457 shares of the company’s stock valued at $109,000 after purchasing an additional 60,539 shares in the last quarter. Meteora Capital LLC purchased a new position in TMC the metals in the 3rd quarter valued at $55,000. Finally, Virtu Financial LLC acquired a new stake in TMC the metals during the 4th quarter worth $54,000.

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.