Terrestrial Energy (NASDAQ:IMSR) Stock Price Up 7.1% – Should You Buy?

Terrestrial Energy Inc. (NASDAQ:IMSR) rose 7.1% on Thursday . The company traded as high as $7.52 and last traded at $7.6270. Approximately 595,737 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 2,768,271 shares. The stock had previously closed at $7.12.

Wall Street Analyst Weigh In

IMSR has been the subject of a number of analyst reports. Zacks Research raised Terrestrial Energy to a “hold” rating in a report on Friday, January 30th. Northland Securities started coverage on Terrestrial Energy in a research note on Thursday, January 29th. They issued an “outperform” rating and a $15.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Terrestrial Energy in a research note on Monday. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $13.50.

Terrestrial Energy Stock Down 10.4%

The business’s 50 day simple moving average is $6.85.

Terrestrial Energy (NASDAQ:IMSR) last released its earnings results on Monday, March 30th. The company reported ($0.50) EPS for the quarter. As a group, research analysts expect that Terrestrial Energy Inc. will post -0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Terrestrial Energy

Several institutional investors have recently added to or reduced their stakes in IMSR. Bank of New York Mellon Corp purchased a new stake in Terrestrial Energy during the first quarter valued at about $102,000. Swiss National Bank purchased a new stake in Terrestrial Energy during the first quarter valued at about $340,000. Yorkville Advisors Global LP purchased a new stake in Terrestrial Energy during the first quarter valued at about $733,000. Finally, Renaissance Technologies LLC grew its position in Terrestrial Energy by 136.1% during the first 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.

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.