Terrestrial Energy (NASDAQ:IMSR) Now Covered by Wedbush

Key Points

• Wedbush initiated coverage of Terrestrial Energy with a neutral rating and a $4.00 price target, implying approximately 33.8% upside from the stock’s current price.
• Analyst opinions remain mixed, but MarketBeat reports a consensus rating of “Moderate Buy” and an average price target of $11.83, compared with targets ranging from $4.00 to $15.00.
• IMSR shares opened at $2.99 and have declined 7.1%, while the company recently authorized a $25 million share buyback and its CEO purchased 16,900 shares at an average price of $3.01.

Analysts at Wedbush assumed coverage on shares of Terrestrial Energy (NASDAQ:IMSR - Get Free Report) in a report issued on Tuesday, Briefing.com reports. The firm set a "neutral" rating and a $4.00 price target on the stock. Wedbush's price target indicates a potential upside of 33.78% from the stock's current price.

Several other research analysts also recently issued reports on the stock. UBS Group set a $10.00 price objective on shares of Terrestrial Energy in a research report on Monday, October 26th. Roth Capital began coverage on shares of Terrestrial Energy in a research note on Tuesday, September 22nd. They issued a "buy" rating and a $15.00 price objective on the stock. Wall Street Zen raised shares of Terrestrial Energy from a "strong sell" rating to a "sell" rating in a report on Sunday. Weiss Ratings upgraded shares of Terrestrial Energy from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, October 26th. Finally, Lucid Cap Mkts upgraded shares of Terrestrial Energy to a "strong-buy" rating in a research note on Monday, October 26th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.83.

Terrestrial Energy Trading Down 7.1%

Shares of IMSR opened at $2.99 on Tuesday. The firm has a market cap of $316.75 million, a PE ratio of -15.74 and a beta of 2.52. The company's 50 day simple moving average is $4.07 and its 200-day simple moving average is $6.32. Terrestrial Energy has a 12-month low of $2.70 and a 12-month high of $16.38.

Terrestrial Energy (NASDAQ:IMSR - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.01. As a group, equities research analysts forecast that Terrestrial Energy will post -0.50 EPS for the current fiscal year.

Terrestrial Energy declared that its board has initiated a share buyback plan on Tuesday, October 27th that authorizes the company to buy back $25 million in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Share repurchase plans are often an indication that the company's management believes its stock is undervalued.

Insider Activity at Terrestrial Energy

In related news, CEO Simon Irish purchased 16,900 shares of the business's stock in a transaction dated Tuesday, October 13th. The stock was acquired at an average price of $3.01 per share, for a total transaction of $50,869.00. Following the completion of the purchase, the chief executive officer directly owned 2,312,834 shares of the company's stock, valued at $6,961,630.34. This trade represents a 0.74% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 28.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Terrestrial Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its holdings in shares of Terrestrial Energy by 136.1% in the first quarter. Renaissance Technologies LLC now owns 407,900 shares of the company's stock valued at $2,449,000 after acquiring an additional 235,100 shares in the last quarter. Yorkville Advisors Global LP purchased a new position in Terrestrial Energy during the first quarter worth about $733,000. SkyView Investment Advisors LLC purchased a new position in Terrestrial Energy during the second quarter worth about $27,000. Engineers Gate Manager LP purchased a new position in Terrestrial Energy during the second quarter worth about $583,000. Finally, WINTON GROUP Ltd lifted its position in Terrestrial Energy by 1.6% in the second quarter. WINTON GROUP Ltd now owns 504,000 shares of the company's stock valued at $3,568,000 after purchasing an additional 7,700 shares during the period.

About Terrestrial Energy

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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