Terrestrial Energy (NASDAQ:IMSR) Stock Dropped to "Strong Sell" by Wall Street Zen

Key Points

• Wall Street Zen downgraded Terrestrial Energy to “strong sell” from “sell,” although the broader analyst consensus remains “Moderate Buy,” with an average price target of $14.25.
• IMSR shares opened at $2.80, near their 12-month low of $2.73 and well below the 50-day and 200-day moving averages of $4.34 and $5.92, respectively.
• CEO Simon Irish purchased 16,900 shares for approximately $50,869, while institutional investors including California State Teachers Retirement System recently established positions in the company.

Terrestrial Energy (NASDAQ:IMSR - Get Free Report) was downgraded by Wall Street Zen from a "sell" rating to a "strong sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other equities research analysts also recently issued reports about the company. Lake Street Capital assumed coverage on Terrestrial Energy in a research note on Wednesday. They set a "buy" rating and a $15.00 price target for the company. Weiss Ratings downgraded Terrestrial Energy from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, October 8th. Finally, Roth Capital initiated coverage on shares of Terrestrial Energy in a research report on Tuesday, September 22nd. They set a "buy" rating and a $15.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Terrestrial Energy currently has a consensus rating of "Moderate Buy" and an average price target of $14.25.

Terrestrial Energy Stock Down 2.1%

Shares of NASDAQ:IMSR opened at $2.80 on Friday. The company has a market cap of $296.60 million, a P/E ratio of -14.74 and a beta of 2.52. Terrestrial Energy has a 12-month low of $2.73 and a 12-month high of $21.60. The company's fifty day moving average is $4.34 and its two-hundred day moving average is $5.92.

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

Insider Buying and Selling

In other Terrestrial Energy news, CEO Simon Irish purchased 16,900 shares of the firm's stock in a transaction that occurred on Tuesday, October 13th. The shares were acquired at an average cost 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 approximately $6,961,630.34. The trade was a 0.74% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 28.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Terrestrial Energy

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