Terrestrial Energy (NASDAQ:IMSR) Trading 12.5% Higher – Here’s Why

Shares of Terrestrial Energy Inc. (NASDAQ:IMSR) traded up 12.5% during mid-day trading on Thursday . The company traded as high as $8.40 and last traded at $8.6480. 823,236 shares traded hands during trading, a decline of 72% from the average session volume of 2,905,482 shares. The stock had previously closed at $7.69.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Terrestrial Energy in a research report on Monday, May 11th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Terrestrial Energy has a consensus rating of “Hold” and an average price target of $13.50.

Terrestrial Energy Stock Up 8.7%

The business’s 50-day moving average is $7.48. The firm has a market cap of $885.47 million, a PE ratio of -83.55 and a beta of 2.08.

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

Hedge Funds Weigh In On Terrestrial Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in IMSR. Bank of New York Mellon Corp acquired a new position in Terrestrial Energy in the 1st quarter valued at approximately $102,000. Swiss National Bank acquired a new position in Terrestrial Energy in the 1st quarter valued at approximately $340,000. Yorkville Advisors Global LP acquired a new position in Terrestrial Energy in the 1st quarter valued at approximately $733,000. Renaissance Technologies LLC increased its position in Terrestrial Energy by 136.1% in the 1st quarter. Renaissance Technologies LLC now owns 407,900 shares of the company’s stock valued at $2,449,000 after acquiring an additional 235,100 shares during the period. Finally, California State Teachers Retirement System acquired a new position in Terrestrial Energy in the 1st quarter valued at approximately $188,000.

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.