Terrestrial Energy (NASDAQ:IMSR) Trading 10.3% Higher – Here’s Why

Terrestrial Energy Inc. (NASDAQ:IMSR) rose 10.3% during trading on Tuesday . The stock traded as high as $5.57 and last traded at $5.6790. 241,705 shares traded hands during trading, a decline of 90% from the average session volume of 2,522,572 shares. The stock had previously closed at $5.15.

Analysts Set New Price Targets

A number of research firms have weighed in on IMSR. Weiss Ratings restated a “sell (d-)” rating on shares of Terrestrial Energy in a research note on Friday, August 7th. Wall Street Zen upgraded Terrestrial Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $13.50.

Terrestrial Energy Stock Performance

The company has a market capitalization of $599.03 million, a P/E ratio of -29.76 and a beta of 2.40. The stock’s fifty day moving average price is $5.49 and its 200-day moving average price is $6.55.

Terrestrial Energy (NASDAQ:IMSR) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. On average, research analysts predict that Terrestrial Energy Inc. will post -0.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its holdings in Terrestrial Energy by 136.1% during the 1st quarter. Renaissance Technologies LLC now owns 407,900 shares of the company’s stock valued at $2,449,000 after purchasing an additional 235,100 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Terrestrial Energy by 608.0% in the second quarter. California State Teachers Retirement System now owns 221,434 shares of the company’s stock valued at $1,568,000 after purchasing an additional 190,158 shares during the last quarter. Yorkville Advisors Global LP bought a new position in shares of Terrestrial Energy in the first quarter valued at about $733,000. FNY Investment Advisers LLC raised its position in shares of Terrestrial Energy by 129.2% in the second quarter. FNY Investment Advisers LLC now owns 151,650 shares of the company’s stock valued at $1,073,000 after purchasing an additional 85,490 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Terrestrial Energy by 96.0% during the 1st quarter. Bank of America Corp DE now owns 132,750 shares of the company’s stock worth $797,000 after buying an additional 65,021 shares during the last quarter.

About Terrestrial Energy

Terrestrial Energy (Nasdaq: IMSR) is a developer of Generation IV nuclear plants that use its proprietary Integral Molten Salt Reactor (IMSR). The IMSR captures the operating benefits of molten salt reactor technology in a plant design that prioritizes capital efficiency, cost reduction, versatility and functionality of nuclear energy supply.

IMSR plants are designed to be small and modular for distributed supply of low-cost, reliable, dispatchable, clean, high-temperature industrial heat and electricity, extending the application of nuclear energy beyond electric power markets to industrial applications such as petrochemical and chemical synthesis and data center operation.