Terrestrial Energy (NASDAQ:IMSR) Trading Down 7.6% - Should You Sell?

Key Points

• Terrestrial Energy shares fell 7.6% to $5.26 in mid-day trading, with volume down 82% from the average session. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed, with two Buy ratings, one Hold and one Sell; the consensus rating is Hold with a $13.50 price target, substantially above the current price.
• The company beat quarterly EPS estimates slightly, reporting a loss of $0.09 per share versus the expected $0.10 loss. Several institutional investors increased their positions, including Renaissance Technologies, FNY Investment Advisers and Bank of America.

Terrestrial Energy Inc. (NASDAQ:IMSR - Get Free Report)'s stock price fell 7.6% during mid-day trading on Thursday . The company traded as low as $5.24 and last traded at $5.26. 472,794 shares were traded during trading, a decline of 82% from the average session volume of 2,637,909 shares. The stock had previously closed at $5.69.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on IMSR shares. Wall Street Zen raised Terrestrial Energy from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 15th. Weiss Ratings reissued a "sell (d-)" rating on shares of Terrestrial Energy in a report on Friday, August 7th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $13.50.

Terrestrial Energy Trading Down 8.6%

The stock has a market capitalization of $550.84 million, a PE ratio of -27.37 and a beta of 2.39. The stock has a 50 day moving average price of $6.08 and a 200-day moving average price of $6.79.

Terrestrial Energy (NASDAQ:IMSR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.01. Research analysts forecast that Terrestrial Energy Inc. will post -0.44 earnings per share for the current year.

Hedge Funds Weigh In On Terrestrial Energy

Several institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC grew 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. FNY Investment Advisers LLC lifted its holdings in Terrestrial Energy by 129.2% during the second quarter. FNY Investment Advisers LLC now owns 151,650 shares of the company's stock valued at $1,073,000 after purchasing an additional 85,490 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Terrestrial Energy by 96.0% in 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. Yorkville Advisors Global LP bought a new position in shares of Terrestrial Energy in the first quarter worth approximately $733,000. Finally, Swiss National Bank purchased a new stake in shares of Terrestrial Energy in the first quarter worth $340,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source