Terrestrial Energy (NASDAQ:IMSR) Stock Price Up 11.7% – Here’s Why

Terrestrial Energy Inc. (NASDAQ:IMSR) shares traded up 11.7% on Friday . The stock traded as high as $9.00 and last traded at $9.1170. 3,276,920 shares were traded during mid-day trading, an increase of 15% from the average session volume of 2,848,770 shares. The stock had previously closed at $8.16.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Terrestrial Energy in a report on Monday, May 11th. Northland Securities started coverage on Terrestrial Energy in a research report on Thursday, January 29th. They set an “outperform” rating and a $15.00 price objective on the stock. Finally, Zacks Research upgraded Terrestrial Energy to a “hold” rating in a research report on Friday, January 30th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $13.50.

Terrestrial Energy Price Performance

The stock’s 50-day simple moving average is $6.98. The company has a market cap of $966.61 million, a PE ratio of -92.05 and a beta of 1.85.

Terrestrial Energy (NASDAQ:IMSR) last announced its quarterly earnings results on Monday, March 30th. The company reported ($0.50) earnings per share for the quarter. Sell-side analysts anticipate that Terrestrial Energy Inc. will post -0.46 earnings per share for the current year.

Hedge Funds Weigh In On Terrestrial Energy

Several hedge funds have recently added to or reduced their stakes in IMSR. Flax Pond Capital LLC acquired a new position in Terrestrial Energy in the first quarter valued at about $96,000. Bank of New York Mellon Corp acquired a new position in Terrestrial Energy in the first quarter valued at about $102,000. California State Teachers Retirement System acquired a new position in Terrestrial Energy in the first quarter valued at about $188,000. Swiss National Bank acquired a new position in Terrestrial Energy in the first quarter valued at about $340,000. Finally, Yorkville Advisors Global LP acquired a new position in Terrestrial Energy in the first quarter valued at about $733,000.

About Terrestrial Energy

Terrestrial Energy Inc produces carbon free nuclear energy in North Carolina and internationally. The company was founded in 2013 and is headquartered in Charlotte, North Carolina.