Terrestrial Energy (NASDAQ:IMSR) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Terrestrial Energy from “strong sell” to “sell,” while broader analyst sentiment remains “Moderate Buy” with a consensus price target of $13.40.
• IMSR shares opened at $3.22, well below their $17.40 one-year high; the company reported a quarterly loss of $0.09 per share, slightly better than estimates.
• Terrestrial Energy authorized a $25 million stock buyback, and CEO Simon Irish purchased 16,900 shares at an average price of $3.01.

Terrestrial Energy (NASDAQ:IMSR - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued on Sunday, Wall Street Zen reports.

Several other research analysts have also recently weighed in on the stock. UBS Group set a $10.00 price target on shares of Terrestrial Energy in a report on Monday, October 26th. Lucid Cap Mkts upgraded Terrestrial Energy to a "strong-buy" rating in a report on Monday, October 26th. Lake Street Capital began coverage on Terrestrial Energy in a research report on Wednesday, October 21st. They issued a "buy" rating and a $15.00 target price on the stock. Roth Capital started coverage on Terrestrial Energy in a research report on Tuesday, September 22nd. They issued a "buy" rating and a $15.00 target price on the stock. Finally, Weiss Ratings upgraded Terrestrial Energy from a "sell (e+)" rating to a "sell (d-)" 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, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Terrestrial Energy currently has an average rating of "Moderate Buy" and a consensus price target of $13.40.

Terrestrial Energy Price Performance

Shares of IMSR opened at $3.22 on Friday. Terrestrial Energy has a one year low of $2.70 and a one year high of $17.40. The company has a market capitalization of $341.09 million, a P/E ratio of -16.95 and a beta of 2.52. The business's 50 day simple moving average is $4.12 and its 200-day simple moving average is $6.35.

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 for the quarter, beating the consensus estimate of ($0.10) by $0.01. On average, sell-side analysts anticipate that Terrestrial Energy will post -0.50 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other news, CEO Simon Irish purchased 16,900 shares of the business's stock in a transaction dated 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 purchase, the chief executive officer 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 position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 28.60% of the stock is owned by corporate insiders.

Institutional Trading of Terrestrial Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Valeo Financial Advisors LLC acquired a new position in Terrestrial Energy in the 3rd quarter valued at approximately $58,000. SkyView Investment Advisors LLC bought a new position in shares of Terrestrial Energy during the second quarter valued at $27,000. WINTON GROUP Ltd lifted its holdings in shares of Terrestrial Energy by 1.6% during the second quarter. WINTON GROUP Ltd now owns 504,000 shares of the company's stock worth $3,568,000 after purchasing an additional 7,700 shares during the period. Engineers Gate Manager LP acquired a new position in shares of Terrestrial Energy during the second quarter worth $583,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Terrestrial Energy during the second quarter worth $120,000.

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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