Terrestrial Energy (NASDAQ:IMSR) CEO Acquires $50,869.00 in Stock

Key Points

• CEO Simon Irish purchased 16,900 shares of Terrestrial Energy at an average price of $3.01, investing $50,869 and increasing his stake by 0.74% to 2.31 million shares.
• IMSR shares fell 4.7% to $2.96, near the company’s one-year low of $2.79. Terrestrial Energy remains unprofitable, though its latest quarterly loss of $0.09 per share was better than analysts’ $0.10 estimate.
• Analyst sentiment is mixed, with a consensus rating of Hold and an average price target of $14.00; institutional investors including Renaissance Technologies and Bank of America have recently increased their positions.

Terrestrial Energy Inc. (NASDAQ:IMSR - Get Free Report) CEO Simon Irish purchased 16,900 shares of the company's stock in a transaction dated Tuesday, October 13th. The stock was acquired at an average price of $3.01 per share, with a total value of $50,869.00. Following the completion of the transaction, the chief executive officer owned 2,312,834 shares of the company's stock, valued at $6,961,630.34. This represents a 0.74% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Terrestrial Energy Stock Down 4.7%

Shares of IMSR stock traded down $0.14 on Wednesday, reaching $2.96. The company had a trading volume of 579,019 shares, compared to its average volume of 2,402,034. The business's 50-day moving average is $4.78 and its 200 day moving average is $6.10. The stock has a market capitalization of $314.08 million, a PE ratio of -15.71 and a beta of 2.52. Terrestrial Energy Inc. has a one year low of $2.79 and a one year high of $31.50.

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, topping the consensus estimate of ($0.10) by $0.01. On average, sell-side analysts forecast that Terrestrial Energy Inc. will post -0.50 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Terrestrial Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. WINTON GROUP Ltd increased its stake 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 valued at $3,568,000 after purchasing an additional 7,700 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Terrestrial Energy by 136.1% in the first quarter. Renaissance Technologies LLC now owns 407,900 shares of the company's stock worth $2,449,000 after acquiring an additional 235,100 shares in the last quarter. FNY Investment Advisers LLC grew its stake in shares of Terrestrial Energy by 129.2% in the second quarter. FNY Investment Advisers LLC now owns 151,650 shares of the company's stock worth $1,073,000 after acquiring an additional 85,490 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Terrestrial Energy by 96.0% in the first quarter. Bank of America Corp DE now owns 132,750 shares of the company's stock worth $797,000 after acquiring an additional 65,021 shares during the last quarter. Finally, Yorkville Advisors Global LP bought a new position in shares of Terrestrial Energy during the first quarter valued at $733,000.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IMSR. Wall Street Zen upgraded Terrestrial Energy from a "strong sell" rating to a "sell" rating in a report on Saturday, August 15th. 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 assumed coverage on shares of Terrestrial Energy in a research note on Tuesday, September 22nd. They issued a "buy" rating and a $15.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $14.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.