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

Key Points

• Wall Street Zen downgraded Terrestrial Energy from “sell” to “strong sell.” Despite that, the broader analyst consensus remains “Moderate Buy,” with an average price target of $11.83.
• IMSR opened at $2.84, near its 12-month low of $2.44 and well below its 12-month high of $14.29.
• The company authorized a $25 million share buyback, and CEO Simon Irish purchased 16,900 shares at an average price of $3.01.

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 note issued on Monday, Wall Street Zen reports.

Several other equities analysts have also recently weighed in on IMSR. Lake Street Capital assumed coverage on shares of Terrestrial Energy in a research note on Wednesday, October 21st. They set a "buy" rating and a $15.00 target price for the company. Lucid Cap Mkts upgraded shares of Terrestrial Energy to a "strong-buy" rating in a research note on Monday, October 26th. UBS Group set a $10.00 price objective on shares of Terrestrial Energy in a report on Monday, October 26th. Weiss Ratings upgraded Terrestrial Energy from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, October 26th. Finally, Roth Capital assumed coverage on Terrestrial Energy in a report on Tuesday, September 22nd. They issued a "buy" rating and a $15.00 target price on the stock. One equities research 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 MarketBeat, Terrestrial Energy currently has an average rating of "Moderate Buy" and an average price target of $11.83.

Terrestrial Energy Stock Performance

Shares of NASDAQ:IMSR opened at $2.84 on Monday. The stock has a 50 day moving average of $3.86 and a 200 day moving average of $6.15. The company has a market cap of $300.84 million, a PE ratio of -14.95 and a beta of 2.59. Terrestrial Energy has a 12-month low of $2.44 and a 12-month high of $14.29.

Terrestrial Energy (NASDAQ:IMSR - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.10) by $0.01. Equities research analysts predict that Terrestrial Energy will post -0.40 earnings per share for the current fiscal year.

Terrestrial Energy announced that its Board of Directors has initiated a stock buyback program on Tuesday, October 27th that permits the company to buy back $25 million in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Share buyback programs are usually a sign that the company's management believes its stock is undervalued.

Insider Activity at Terrestrial Energy

In other Terrestrial Energy news, CEO Simon Irish bought 16,900 shares of the business's stock in a transaction that occurred on Tuesday, October 13th. The stock was purchased at an average cost of $3.01 per share, with a total value of $50,869.00. Following the completion of the acquisition, the chief executive officer owned 2,312,834 shares in the company, valued at $6,961,630.34. This trade represents a 0.74% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 28.60% of the company's stock.

Institutional Trading of Terrestrial Energy

Several hedge funds have recently made changes to their positions in the business. SkyView Investment Advisors LLC purchased a new position in Terrestrial Energy in the second quarter worth about $27,000. Cornerstone Advisory LLC purchased a new stake in Terrestrial Energy during the third quarter valued at approximately $39,000. Alps Advisors Inc. purchased a new stake in Terrestrial Energy during the third quarter valued at approximately $46,000. Valeo Financial Advisors LLC purchased a new stake in Terrestrial Energy during the second quarter valued at approximately $106,000. Finally, Flax Pond Capital LLC bought a new stake in shares of Terrestrial Energy in the 1st quarter valued at approximately $96,000.

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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