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

Terrestrial Energy Inc. (NASDAQ:IMSR)’s stock price shot up 12.5% on Thursday . The stock traded as high as $8.40 and last traded at $8.6480. Approximately 823,236 shares were traded 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 research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Terrestrial Energy currently has a consensus rating of “Hold” and a consensus price target of $13.50.

Terrestrial Energy Stock Performance

The business’s fifty day moving average price is $7.57. The company has a market cap of $901.46 million, a P/E ratio of -85.10 and a beta of 2.08.

Terrestrial Energy (NASDAQ:IMSR) last released its quarterly earnings data on Monday, March 30th. The company reported ($0.50) earnings per share (EPS) for the quarter. As a group, research analysts anticipate that Terrestrial Energy Inc. will post -0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Flax Pond Capital LLC purchased a new position in Terrestrial Energy during the 1st quarter worth $96,000. Bank of America Corp DE raised its position in Terrestrial Energy by 96.0% during the 1st quarter. Bank of America Corp DE now owns 132,750 shares of the company’s stock valued at $797,000 after purchasing an additional 65,021 shares in the last quarter. California State Teachers Retirement System purchased a new stake in shares of Terrestrial Energy in the 1st quarter worth $188,000. Renaissance Technologies LLC grew its position in shares of Terrestrial Energy by 136.1% during the 1st quarter. Renaissance Technologies LLC now owns 407,900 shares of the company’s stock worth $2,449,000 after buying an additional 235,100 shares in the last quarter. Finally, Yorkville Advisors Global LP bought a new position in shares of Terrestrial Energy during the 1st quarter worth $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.