Insider Buying: TMC the metals company Inc. (NASDAQ:TMC) Director Buys 25,000 Shares of Stock

TMC the metals company Inc. (NASDAQ:TMC - Get Free Report) Director Brendan May purchased 25,000 shares of the firm's stock in a transaction on Tuesday, December 24th. The shares were acquired at an average cost of $0.87 per share, for a total transaction of $21,750.00. Following the completion of the purchase, the director now directly owns 100,040 shares of the company's stock, valued at approximately $87,034.80. This represents a 33.32 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

TMC the metals Stock Performance

Shares of NASDAQ TMC traded up $0.22 during mid-day trading on Friday, hitting $1.10. The stock had a trading volume of 7,636,521 shares, compared to its average volume of 1,364,995. The firm has a market cap of $356.69 million, a P/E ratio of -3.55 and a beta of 1.62. The business has a 50 day moving average price of $0.91 and a two-hundred day moving average price of $1.07. TMC the metals company Inc. has a 1 year low of $0.72 and a 1 year high of $2.07.

Institutional Investors Weigh In On TMC the metals

Institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC grew its stake in shares of TMC the metals by 32.6% in the third quarter. Tidal Investments LLC now owns 485,332 shares of the company's stock worth $514,000 after purchasing an additional 119,335 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of TMC the metals in the third quarter worth about $44,000. Finally, Old West Investment Management LLC grew its stake in shares of TMC the metals by 100.0% in the third quarter. Old West Investment Management LLC now owns 1,593,230 shares of the company's stock worth $1,689,000 after purchasing an additional 796,615 shares during the last quarter. Hedge funds and other institutional investors own 4.39% of the company's stock.

About TMC the metals

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.