HCM II Acquisition (NASDAQ:IMSR) Shares Up 8.2% – Here’s Why

HCM II Acquisition Corp. (NASDAQ:IMSR)’s share price was up 8.2% during mid-day trading on Wednesday . The company traded as high as $7.44 and last traded at $7.11. Approximately 2,301,112 shares changed hands during mid-day trading, an increase of 17% from the average daily volume of 1,968,081 shares. The stock had previously closed at $6.57.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IMSR. Wall Street Zen cut shares of HCM II Acquisition from a “hold” rating to a “sell” rating in a research note on Monday, December 22nd. Cantor Fitzgerald assumed coverage on shares of HCM II Acquisition in a research note on Friday, December 19th. They issued an “overweight” rating and a $12.00 price target on the stock. Northland Securities began coverage on shares of HCM II Acquisition in a research note on Thursday, January 29th. They set an “outperform” rating and a $15.00 price objective for the company. Zacks Research upgraded HCM II Acquisition to a “hold” rating in a report on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of HCM II Acquisition in a research report on Wednesday, December 24th. 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 data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $13.50.

HCM II Acquisition Stock Performance

The firm’s 50-day moving average price is $8.44.

About HCM II Acquisition

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.