Terrestrial Energy (NASDAQ:IMSR) Stock Bumped Up to "Strong-Buy" by Lucid Cap Mkts

Key Points

• Lucid Cap Mkts upgraded Terrestrial Energy to “strong buy,” while the broader analyst consensus remains “moderate buy” with a $13.40 target price. Ratings include four buys, one hold, one sell and one strong buy.
• IMSR shares opened at $3.29, well below the $13.40 consensus target and its 52-week high of $21.00. The company recently authorized a $25 million share repurchase program, signaling management may view the stock as undervalued.
• Terrestrial Energy reported quarterly EPS of negative $0.09, beating estimates of negative $0.10, though analysts expect a full-year loss of approximately $0.50 per share. CEO Simon Irish also purchased 16,900 shares, and insiders collectively own 28.6% of the company.

Terrestrial Energy (NASDAQ:IMSR - Get Free Report) was upgraded by research analysts at Lucid Cap Mkts to a "strong-buy" rating in a research report issued on Monday, Zacks reports.

IMSR has been the topic of a number of other reports. Weiss Ratings upgraded Terrestrial Energy from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday. Lake Street Capital started coverage on Terrestrial Energy in a research report on Wednesday, October 21st. They set a "buy" rating and a $15.00 price target for the company. Roth Capital initiated coverage on Terrestrial Energy in a research report on Tuesday, September 22nd. They set a "buy" rating and a $15.00 price target for the company. Wall Street Zen lowered Terrestrial Energy from a "sell" rating to a "strong sell" rating in a report on Saturday. Finally, UBS Group set a $10.00 price objective on shares of Terrestrial Energy in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $13.40.

Terrestrial Energy Stock Performance

Terrestrial Energy stock opened at $3.29 on Monday. The stock has a market cap of $348.53 million, a P/E ratio of -17.32 and a beta of 2.52. Terrestrial Energy has a fifty-two week low of $2.70 and a fifty-two week high of $21.00. The firm's fifty day moving average price is $4.25 and its 200-day moving average price is $6.45.

Terrestrial Energy (NASDAQ:IMSR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.01. Sell-side analysts predict that Terrestrial Energy will post -0.50 earnings per share for the current year.

Terrestrial Energy announced that its Board of Directors has authorized 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 buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Insider Activity

In other Terrestrial Energy news, CEO Simon Irish bought 16,900 shares of the firm's stock in a transaction that occurred on Tuesday, October 13th. The shares were bought at an average price of $3.01 per share, for a total transaction of $50,869.00. Following the transaction, the chief executive officer directly owned 2,312,834 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 28.60% of the company's stock.

Institutional Trading of Terrestrial Energy

Several institutional investors have recently added to or reduced their stakes in IMSR. SkyView Investment Advisors LLC purchased a new position in shares of Terrestrial Energy in the second quarter worth about $27,000. Valeo Financial Advisors LLC purchased a new stake in Terrestrial Energy during the 3rd quarter valued at about $58,000. Flax Pond Capital LLC purchased a new stake in Terrestrial Energy during the 1st quarter valued at about $96,000. Bank of New York Mellon Corp purchased a new stake in Terrestrial Energy during the 1st quarter valued at about $102,000. Finally, California State Teachers Retirement System bought a new position in Terrestrial Energy during the 1st quarter worth approximately $188,000.

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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