Terrestrial Energy (NASDAQ:IMSR) Shares Gap Up on Better-Than-Expected Earnings

Terrestrial Energy Inc. (NASDAQ:IMSR) shares gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $5.45, but opened at $5.76. Terrestrial Energy shares last traded at $5.6170, with a volume of 315,980 shares changing hands.

The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.01.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Terrestrial Energy in a report on Friday. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Terrestrial Energy presently has a consensus rating of “Hold” and an average price target of $13.50.

Institutional Trading of Terrestrial Energy

A number of hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC raised 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 buying an additional 235,100 shares during the period. Yorkville Advisors Global LP purchased a new stake in Terrestrial Energy in the 1st quarter worth about $733,000. Swiss National Bank acquired a new stake in Terrestrial Energy during the 1st quarter worth about $340,000. Flax Pond Capital LLC acquired a new stake in Terrestrial Energy during the 1st quarter worth about $96,000. Finally, Bank of New York Mellon Corp acquired a new stake in Terrestrial Energy during the 2nd quarter worth about $120,000.

Terrestrial Energy Stock Performance

The company has a 50 day simple moving average of $6.39 and a two-hundred day simple moving average of $7.05. The company has a market cap of $597.87 million, a PE ratio of -56.44 and a beta of 2.39.

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.