First Manhattan Co LLC has recently announced that it has increased stake in TMC the metals company Inc (NASDAQ:TMC) by 2.87%. After grabbing 7.27 million shares, the institutional investor is now in possession of 0.2 million shares of the Basic Materials Company. The new investment brought the stake of investor firm to 2.38% having worth around $8.29 million. Moreover, Millennium Management LLC increased its share by 0.61 million to have a control over 0.66 million shares. And Renaissance Technologies LLC raised its holdings to 0.62 million shares by acquiring 0.62 million shares or 0.21% of the stake.
TMC the metals company Inc (TMC) concluded trading on 01/04/24 at a closing price of $1.31, with 5.41 million shares of worth about $7.09 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -35.47% during that period and on Thursday the price saw a gain of about 12.93%. Currently the company’s common shares owned by public are about 266.81M shares, out of which, 108.94M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 28 times over the past 12 months. They bought 27,499,371 shares in 20 of the transactions. In 8 selling transactions, insiders dumped 619,316 shares.
Amplify Lithium & Battery Technol, Fidelity Nasdaq Composite Index F, and Belfund SICAV – Belinvest Equity are the top 3 mutual funds which are holding stakes in TMC the metals company Inc Amplify Lithium & Battery Technol is currently holding 0.57 million shares of worth totaling $0.65 million. The company recently came buying 0.0 shares which brought its stake up to 0.19% of the company’s outstanding shares. Belfund SICAV – Belinvest Equity, after buying 0.17 million shares, have now control over 0.06% of the stake in the company. It holds 0.0 shares of worth $0.2 million.
TMC the metals company Inc (NASDAQ: TMC) started trading at $1.17, above $0.01 from concluding price of the previous day. However, the stock later moved at a day high price of 1.4200, or with a gain of 12.93%. Stock saw a price change of 11.97% in past 5 days and over the past one month there was a price change of 11.02%. Year-to-date (YTD), TMC shares are showing a performance of 19.09% which increased to 80.81% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.65 but also hit the highest price of $3.20 during that period. The average intraday trading volume for TMC the metals company Inc shares is 916.07K. The stock is currently trading 15.95% above its 20-day simple moving average (SMA20), while that difference is up 21.84% for SMA50 and it goes to 17.96% higher than SMA200.
First Manhattan Co LLC acquired 7.27 million shares of TMC the metals company Inc having value of about $8.29 million. Data submitted at the U.S SEC by First Manhattan Co LLC revealed that the firm now holds 0.2 million shares in the company valued at close to $265668.0, or have control over 2.87% stake in the company. TMC the metals company Inc (NASDAQ: TMC) currently have 266.81M outstanding shares and institutions hold larger chunk of about 5.10% of that. Holding of mutual funds in the company is about 4.74% while other institutional holders and individual stake holders have control over 45.75% and 0.37% of the stake respectively.
The stock has a current market capitalization of $401.34M and its 3Y-monthly beta is at 1.77. It has posted earnings per share of -$0.50 in the same period. It has Quick Ratio of 1.44 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for TMC, volatility over the week remained 10.87% while standing at 7.64% over the month.
Analysts are in expectations that TMC the metals company Inc (TMC) stock would likely to be making an EPS of -$0.11 in the current quarter, while forecast for next quarter EPS is -$0.15 and it is -$0.24 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.16 which is -$0.06 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.17 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 71.83% while it is estimated to decrease by -18.33% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Cantor Fitzgerald on November 13, 2023 offering a Buy rating for the stock and assigned a target price of $4.20 to it.
