Tudor Investment Corp ET AL Cuts Stake in TMC the metals company Inc. $TMC

Tudor Investment Corp ET AL lowered its stake in shares of TMC the metals company Inc. (NASDAQ:TMC) by 37.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 442,419 shares of the company’s stock after selling 269,025 shares during the period. Tudor Investment Corp ET AL’s holdings in TMC the metals were worth $2,818,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. NewEdge Advisors LLC bought a new stake in TMC the metals in the second quarter worth about $28,000. Sunbelt Securities Inc. bought a new position in shares of TMC the metals during the 3rd quarter valued at approximately $34,000. Quantbot Technologies LP bought a new position in shares of TMC the metals during the 2nd quarter valued at approximately $48,000. Webster Bank N. A. increased its stake in shares of TMC the metals by 226.4% during the 3rd quarter. Webster Bank N. A. now owns 7,929 shares of the company’s stock worth $51,000 after purchasing an additional 5,500 shares during the last quarter. Finally, Main Street Research LLC purchased a new stake in shares of TMC the metals during the 3rd quarter worth approximately $64,000. Hedge funds and other institutional investors own 4.39% of the company’s stock.

Wall Street Analysts Forecast Growth

TMC has been the subject of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of TMC the metals in a report on Wednesday, January 21st. Wedbush restated an “outperform” rating and issued a $11.00 target price on shares of TMC the metals in a research note on Thursday, January 22nd. Finally, HC Wainwright upped their price target on TMC the metals from $7.50 to $11.75 and gave the company a “buy” rating in a research report on Friday, January 23rd. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, TMC the metals has a consensus rating of “Hold” and an average target price of $11.38.

TMC the metals Trading Down 7.4%

Shares of NASDAQ:TMC opened at $4.27 on Friday. The company has a 50 day moving average of $6.35 and a 200 day moving average of $6.67. The stock has a market cap of $1.77 billion, a P/E ratio of -5.55 and a beta of 1.87. TMC the metals company Inc. has a 12 month low of $1.57 and a 12 month high of $11.35.

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.