Terrestrial Energy (NASDAQ:IMSR) Trading Up 11.7% – Here’s What Happened

Terrestrial Energy Inc. (NASDAQ:IMSR) rose 11.7% on Friday . The company traded as high as $9.00 and last traded at $9.1170. Approximately 3,276,920 shares were traded during mid-day trading, an increase of 15% from the average daily volume of 2,848,770 shares. The stock had previously closed at $8.16.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on IMSR shares. Zacks Research upgraded shares of Terrestrial Energy to a “hold” rating in a report on Friday, January 30th. Northland Securities started coverage on shares of Terrestrial Energy in a report on Thursday, January 29th. They issued an “outperform” rating and a $15.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Terrestrial Energy in a report on Monday, May 11th. Two 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $13.50.

Terrestrial Energy Trading Up 11.8%

The company has a 50-day moving average of $6.98. The company has a market capitalization of $966.61 million, a price-to-earnings ratio of -92.05 and a beta of 1.85.

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

Hedge Funds Weigh In On Terrestrial Energy

Several large investors have recently added to or reduced their stakes in IMSR. 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 stake in Terrestrial Energy in the first quarter valued at $340,000. Yorkville Advisors Global LP bought a new stake in Terrestrial Energy in the first quarter valued at $733,000. Renaissance Technologies LLC lifted its stake in Terrestrial Energy by 136.1% in 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 last quarter. Finally, California State Teachers Retirement System bought a new stake in Terrestrial Energy in the first quarter worth about $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.