Terrestrial Energy (NASDAQ:IMSR) Stock Price Down 10.5% – Here’s What Happened

Terrestrial Energy Inc. (NASDAQ:IMSR) traded down 10.5% during trading on Tuesday . The company traded as low as $5.98 and last traded at $5.9130. 502,645 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 2,831,901 shares. The stock had previously closed at $6.61.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Terrestrial Energy in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $13.50.

Terrestrial Energy Trading Down 9.0%

The company has a market cap of $637.17 million, a PE ratio of -60.26 and a beta of 2.24. The stock has a fifty day moving average price of $7.53.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Flax Pond Capital LLC acquired a new stake in Terrestrial Energy during the 1st quarter worth about $96,000. Bank of America Corp DE increased its holdings in shares of Terrestrial Energy by 96.0% in 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 during the period. California State Teachers Retirement System purchased a new stake in shares of Terrestrial Energy in the first quarter worth approximately $188,000. Renaissance Technologies LLC lifted its position in shares of Terrestrial Energy by 136.1% in the first quarter. Renaissance Technologies LLC now owns 407,900 shares of the company’s stock worth $2,449,000 after purchasing an additional 235,100 shares in the last quarter. Finally, Yorkville Advisors Global LP purchased a new position in Terrestrial Energy during the first quarter valued at approximately $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.