Gray Wealth Management Inc. Has $27,000 Stake in TMC the metals company Inc. (NASDAQ:TMC)

Gray Wealth Management Inc. increased its stake in shares of TMC the metals company Inc. (NASDAQ:TMC) by 59.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,700 shares of the company’s stock after buying an additional 8,863 shares during the quarter. Gray Wealth Management Inc.’s holdings in TMC the metals were worth $27,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. bought a new stake in shares of TMC the metals during the 4th quarter worth approximately $28,000. Raymond James Financial Inc. acquired a new position in TMC the metals during the fourth quarter valued at approximately $28,000. Independent Advisor Alliance bought a new stake in TMC the metals during the fourth quarter worth $42,000. Virtu Financial LLC acquired a new stake in shares of TMC the metals in the 3rd quarter valued at $44,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of TMC the metals in the 4th quarter valued at $94,000. Institutional investors own 4.39% of the company’s stock.

Insider Transactions at TMC the metals

In other news, insider Erika Ilves sold 217,099 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $1.11, for a total transaction of $240,979.89. Following the sale, the insider now directly owns 998,170 shares in the company, valued at approximately $1,107,968.70. The trade was a 17.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 30.00% of the company’s stock.

TMC the metals Price Performance

TMC stock opened at $1.85 on Monday. The stock has a market cap of $599.89 million, a price-to-earnings ratio of -5.97 and a beta of 1.52. The company has a 50 day simple moving average of $1.67 and a 200 day simple moving average of $1.21. TMC the metals company Inc. has a 1 year low of $0.72 and a 1 year high of $2.55.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners started coverage on TMC the metals in a research note on Wednesday, January 15th. They issued a “buy” rating and a $3.75 price objective on the 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.