Terrestrial Energy Inc. (NASDAQ:IMSR – Get Free Report)’s share price dropped 10.7% on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $7.41 and last traded at $7.2750. Approximately 817,338 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 2,805,995 shares. The stock had previously closed at $8.15.
The company reported ($0.50) earnings per share (EPS) for the quarter.
Analysts Set New Price Targets
IMSR has been the subject of several recent research reports. Northland Securities started coverage on shares of Terrestrial Energy in a research report on Thursday, January 29th. They issued an “outperform” rating and a $15.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Terrestrial Energy in a report on Monday. Finally, Zacks Research upgraded Terrestrial Energy to a “hold” rating in a report on Friday, January 30th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $13.50.
Hedge Funds Weigh In On Terrestrial Energy
A number of hedge funds have recently made changes to their positions in IMSR. Renaissance Technologies LLC raised 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 during the last quarter. Yorkville Advisors Global LP bought a new position in shares of Terrestrial Energy during the first quarter worth about $733,000. Swiss National Bank bought a new position in shares of Terrestrial Energy during the first quarter worth about $340,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Terrestrial Energy during the first quarter worth about $102,000.
Terrestrial Energy Price Performance
The company has a 50-day moving average price of $6.85.
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.
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