Terrestrial Energy (NASDAQ:IMSR) Stock Price Down 5.6% – Here’s What Happened

Terrestrial Energy Inc. (NASDAQ:IMSR)’s share price dropped 5.6% on Friday . The stock traded as low as $4.94 and last traded at $4.9640. Approximately 261,025 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 2,498,354 shares. The stock had previously closed at $5.26.

Analyst Upgrades and Downgrades

A number of research firms have commented on IMSR. Wall Street Zen upgraded Terrestrial Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings reiterated 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 assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $13.50.

Terrestrial Energy Stock Performance

The business’s 50 day moving average is $5.41 and its 200-day moving average is $6.53. The firm has a market capitalization of $515.35 million, a price-to-earnings ratio of -25.61 and a beta of 2.40.

Terrestrial Energy (NASDAQ:IMSR) last posted its earnings results on Tuesday, August 11th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. Equities research analysts forecast that Terrestrial Energy Inc. will post -0.44 EPS for the current fiscal year.

Institutional Trading of Terrestrial Energy

A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp acquired a new stake in shares of Terrestrial Energy in the 1st quarter valued at approximately $102,000. Swiss National Bank bought a new stake in shares of Terrestrial Energy in the 1st quarter valued at $340,000. Yorkville Advisors Global LP bought a new position in Terrestrial Energy during the first quarter worth about $733,000. Renaissance Technologies LLC increased its position in shares of Terrestrial Energy by 136.1% during the first quarter. Renaissance Technologies LLC now owns 407,900 shares of the company’s stock worth $2,449,000 after acquiring an additional 235,100 shares in the last quarter. Finally, California State Teachers Retirement System bought a new stake in Terrestrial Energy in the 1st quarter valued at $188,000.

Terrestrial Energy Company Profile

Terrestrial Energy (Nasdaq: IMSR) is a developer of Generation IV nuclear plants that use its proprietary Integral Molten Salt Reactor (IMSR). The IMSR captures the operating benefits of molten salt reactor technology in a plant design that prioritizes capital efficiency, cost reduction, versatility and functionality of nuclear energy supply.

IMSR plants are designed to be small and modular for distributed supply of low-cost, reliable, dispatchable, clean, high-temperature industrial heat and electricity, extending the application of nuclear energy beyond electric power markets to industrial applications such as petrochemical and chemical synthesis and data center operation.