Terrestrial Energy (NASDAQ:IMSR) Shares Gap Up on Strong Earnings

Terrestrial Energy Inc. (NASDAQ:IMSR)’s share price gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $5.45, but opened at $5.76. Terrestrial Energy shares last traded at $5.6170, with a volume of 315,980 shares changing hands.

The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Terrestrial Energy in a report on Friday. Two research 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new stake in shares of Terrestrial Energy in the 1st quarter valued at $102,000. Swiss National Bank acquired a new position in Terrestrial Energy during the first quarter worth $340,000. Yorkville Advisors Global LP acquired a new position in Terrestrial Energy during the first quarter worth $733,000. Renaissance Technologies LLC raised its holdings 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 in the last quarter. Finally, California State Teachers Retirement System bought a new position in Terrestrial Energy during the first quarter valued at about $188,000.

Terrestrial Energy Stock Up 3.6%

The business has a 50-day simple moving average of $6.39 and a two-hundred day simple moving average of $7.05. The company has a market cap of $597.87 million, a price-to-earnings ratio of -56.44 and a beta of 2.39.

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.