Terrestrial Energy (NASDAQ:IMSR) Stock Price Down 7.1% – Here’s What Happened

Terrestrial Energy Inc. (NASDAQ:IMSR)’s stock price traded down 7.1% during mid-day trading on Monday . The stock traded as low as $7.82 and last traded at $7.9090. 911,403 shares traded hands during trading, a decline of 69% from the average session volume of 2,911,591 shares. The stock had previously closed at $8.51.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Terrestrial Energy in a research report on Monday, May 11th. Two investment 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, the stock currently has an average rating of “Hold” and a consensus target price of $13.50.

Terrestrial Energy Price Performance

The stock has a market capitalization of $843.10 million, a PE ratio of -79.65 and a beta of 2.07. The business has a fifty day moving average price of $7.57.

Terrestrial Energy (NASDAQ:IMSR) last issued its earnings results on Monday, March 30th. The company reported ($0.50) earnings per share (EPS) for the quarter. On average, equities research analysts expect that Terrestrial Energy Inc. will post -0.46 earnings per share for the current year.

Hedge Funds Weigh In On Terrestrial Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its stake in shares of Terrestrial Energy by 136.1% in 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 period. Yorkville Advisors Global LP bought a new position in shares of Terrestrial Energy in the 1st quarter worth $733,000. Bank of America Corp DE grew its stake in shares of Terrestrial Energy by 96.0% during the first quarter. Bank of America Corp DE now owns 132,750 shares of the company’s stock worth $797,000 after purchasing an additional 65,021 shares during the period. Swiss National Bank acquired a new stake in shares of Terrestrial Energy during the first quarter worth $340,000. Finally, California State Teachers Retirement System bought a new stake in Terrestrial Energy in the first quarter valued at about $188,000.

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.