Brendan May Acquires 25,000 Shares of TMC the Metals Company Inc.

On December 24th, Brendan May, a director of TMC the metals company Inc. (NASDAQ:TMC), made a significant purchase of 25,000 shares of the company’s stock. The shares were bought at an average price of $0.87 each, bringing the total transaction value to $21,750. Following this acquisition, May's total holdings in TMC now amount to 100,040 shares, which are approximately worth $87,034.80. This recent purchase represents a notable increase of 33.32% in his stake in the company. This transaction has been officially disclosed in a filing with the Securities & Exchange Commission, which is publicly available.

TMC the metals is currently experiencing a positive trend in its stock performance, with shares trading up by 25.0% to reach a price of $1.10 during the midday trading session on Friday. A total of 7,594,426 shares exchanged hands, significantly higher than the usual average volume of 1,362,364 shares. Over the past year, TMC has seen a low of $0.72 and a high of $2.07. The company is currently showing a 50-day simple moving average of $0.91 and a 200-day simple moving average of $1.07. TMC the metals company Inc. boasts a market capitalization of approximately $356.69 million, a P/E ratio of -3.55, and a beta of 1.62.

Institutional Investments in TMC the Metals

In recent months, several institutional investors and hedge funds have adjusted their holdings in TMC the metals. For instance, Old West Investment Management LLC has doubled its investment by growing its stake by 100.0% in the third quarter, now owning 1,593,230 shares valued at $1,689,000 after acquiring an additional 796,615 shares. Furthermore, Virtu Financial LLC also entered a new stake in TMC valued at around $44,000 during the same quarter. Likewise, Tidal Investments LLC increased its shares by 32.6% last quarter, bringing their total ownership to 485,332 shares worth about $514,000. Collectively, institutional and hedge fund owners hold around 4.39% of the stock.

Overview of TMC the Metals Company

TMC the metals company Inc. specializes in deep-sea mineral exploration, particularly focusing on the collection and processing of polymetallic nodules found on the ocean floor. The company is particularly interested in minerals such as nickel, cobalt, copper, and manganese. TMC holds the exploration and commercial rights for three contract areas concerning polymetallic nodules in the Clarion Clipperton Zone located in the Pacific Ocean.

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