Terrestrial Energy (NASDAQ:IMSR) Stock Price Down 8.9% – Here’s What Happened

Terrestrial Energy Inc. (NASDAQ:IMSR) shares dropped 8.9% on Wednesday . The stock traded as low as $8.72 and last traded at $8.75. Approximately 2,013,349 shares changed hands during trading, a decline of 31% from the average daily volume of 2,934,988 shares. The stock had previously closed at $9.60.

Analyst Upgrades and Downgrades

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

Terrestrial Energy Price Performance

The firm has a market capitalization of $919.47 million, a P/E ratio of -86.80 and a beta of 2.08. The stock’s 50-day moving average price is $7.10.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in Terrestrial Energy by 96.0% during the first quarter. Bank of America Corp DE now owns 132,750 shares of the company’s stock valued at $797,000 after buying an additional 65,021 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Terrestrial Energy in the first quarter worth about $102,000. California State Teachers Retirement System purchased a new position in Terrestrial Energy in the first quarter worth about $188,000. Renaissance Technologies LLC raised its holdings in 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 buying an additional 235,100 shares during the last quarter. Finally, Swiss National Bank purchased a new position in Terrestrial Energy in the first quarter worth about $340,000.

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.