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

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

Wall Street Analyst Weigh In

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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.50.

Terrestrial Energy Price Performance

The firm has a 50-day simple moving average of $7.48. The stock has a market cap of $885.47 million, a P/E ratio of -83.55 and a beta of 2.08.

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

Institutional Investors Weigh In On Terrestrial Energy

Several large investors have recently modified their holdings of the company. Bank of New York Mellon Corp bought a new position in Terrestrial Energy during the first quarter worth $102,000. Swiss National Bank bought a new position in Terrestrial Energy during the first quarter worth $340,000. Yorkville Advisors Global LP bought a new position in Terrestrial Energy during the first quarter worth $733,000. Renaissance Technologies LLC boosted its stake in Terrestrial Energy by 136.1% during the first quarter. Renaissance Technologies LLC now owns 407,900 shares of the company’s stock worth $2,449,000 after acquiring an additional 235,100 shares in the last quarter. Finally, California State Teachers Retirement System bought a new position in Terrestrial Energy during the first quarter worth $188,000.

Terrestrial Energy Company Profile

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.