Terrestrial Energy (NASDAQ:IMSR) Cut to "Market Perform" at Northland Securities

Key Points

• Northland Securities downgraded Terrestrial Energy to “Market Perform” from “Outperform,” while keeping a $3.25 price target—about 19.5% above the prior close.
• Analyst views are mixed: MarketBeat reports a consensus “Moderate Buy” rating and $9.88 average target, despite recent downgrades from other firms.
• Shares fell 9.3%; the company reported a smaller-than-expected quarterly loss and has authorized up to $25 million in share repurchases.

Terrestrial Energy (NASDAQ:IMSR - Get Free Report) was downgraded by Northland Securities from an "outperform" rating to a "market perform" rating in a report released on Wednesday, Marketbeat.com reports. They currently have a $3.25 price objective on the stock. Northland Securities's price target suggests a potential upside of 19.49% from the company's previous close.

Other equities analysts also recently issued research reports about the company. Weiss Ratings downgraded Terrestrial Energy from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday. Roth Capital assumed coverage on shares of Terrestrial Energy in a report on Tuesday, September 22nd. They set a "buy" rating and a $15.00 price target for the company. Wall Street Zen cut shares of Terrestrial Energy from a "sell" rating to a "strong sell" rating in a report on Monday. Lucid Cap Mkts raised shares of Terrestrial Energy to a "strong-buy" rating in a research report on Monday, October 26th. Finally, UBS Group set a $10.00 price objective on shares of Terrestrial Energy in a research note on Monday, October 26th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.88.

Terrestrial Energy Trading Down 9.3%

Shares of IMSR stock opened at $2.72 on Wednesday. The company has a market capitalization of $288.13 million, a price-to-earnings ratio of -14.32 and a beta of 2.59. Terrestrial Energy has a 1-year low of $2.44 and a 1-year high of $14.28. The stock's fifty day simple moving average is $3.77 and its 200-day simple moving average is $6.06.

Terrestrial Energy (NASDAQ:IMSR - Get Free Report) last announced its quarterly earnings data on Tuesday, November 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.05. On average, sell-side analysts predict that Terrestrial Energy will post -0.40 EPS for the current year.

Terrestrial Energy announced that its Board of Directors has initiated a share buyback program on Tuesday, October 27th that allows the company to repurchase $25 million in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Terrestrial Energy news, CEO Simon Irish bought 16,900 shares of the stock in a transaction on Tuesday, October 13th. The shares were purchased at an average cost of $3.01 per share, with a total value of $50,869.00. Following the completion of the transaction, the chief executive officer directly owned 2,312,834 shares of the company's stock, valued at $6,961,630.34. This represents a 0.74% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 28.60% of the stock is owned by insiders.

Institutional Trading of Terrestrial Energy

Several large investors have recently made changes to their positions in the stock. Creek Drive Management Group LLC increased its holdings in shares of Terrestrial Energy by 48.6% during the 3rd quarter. Creek Drive Management Group LLC now owns 260,000 shares of the company's stock valued at $1,011,000 after acquiring an additional 85,000 shares during the last quarter. Landscape Capital Management L.L.C. bought a new stake in Terrestrial Energy during the third quarter worth approximately $594,000. Cornerstone Advisory LLC acquired a new position in Terrestrial Energy during the third quarter valued at approximately $39,000. Periscope Capital Inc. acquired a new position in Terrestrial Energy during the third quarter valued at approximately $440,000. Finally, StoneX Group Inc. bought a new position in shares of Terrestrial Energy in the third quarter valued at approximately $67,000.

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.

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