Terrestrial Energy (NASDAQ:IMSR) Stock Rating Upgraded by Wall Street Zen

Terrestrial Energy (NASDAQ:IMSR) 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.

A number of other research analysts have also weighed in on the stock. Roth Capital started 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 for the company. Lucid Cap Mkts upgraded shares of Terrestrial Energy to a “strong-buy” rating in a report on Monday, October 26th. UBS Group set a $10.00 price target on Terrestrial Energy in a research report on Monday, October 26th. Lake Street Capital assumed coverage on Terrestrial Energy in a research note on Wednesday, October 21st. They issued a “buy” rating and a $15.00 price objective 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 research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Terrestrial Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.40.

Terrestrial Energy Trading Down 7.1%

Shares of Terrestrial Energy stock opened at $2.99 on Friday. The firm has a fifty day simple moving average of $4.07 and a 200-day simple moving average of $6.32. Terrestrial Energy has a 1-year low of $2.70 and a 1-year high of $16.38. The stock has a market capitalization of $316.75 million, a price-to-earnings ratio of -15.74 and a beta of 2.52.

Terrestrial Energy (NASDAQ:IMSR) last posted 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. As a group, research 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 stock repurchase plan on Tuesday, October 27th that allows the company to buy back $25 million in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Terrestrial Energy news, CEO Simon Irish bought 16,900 shares of the stock in a transaction that occurred on Tuesday, October 13th. The shares were acquired at an average price of $3.01 per share, with a total value of $50,869.00. Following the completion of the purchase, the chief executive officer directly owned 2,312,834 shares in the company, valued at $6,961,630.34. The trade was a 0.74% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 28.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its position in shares of Terrestrial Energy by 136.1% during the 1st quarter. Renaissance Technologies LLC now owns 407,900 shares of the company’s stock worth $2,449,000 after buying an additional 235,100 shares during the period. Yorkville Advisors Global LP acquired a new stake in Terrestrial Energy in the 1st quarter valued at $733,000. SkyView Investment Advisors LLC bought a new stake in Terrestrial Energy in the second quarter valued at $27,000. Engineers Gate Manager LP bought a new stake in Terrestrial Energy in the second quarter valued at $583,000. Finally, WINTON GROUP Ltd grew its position in Terrestrial Energy by 1.6% in the second quarter. WINTON GROUP Ltd now owns 504,000 shares of the company’s stock valued at $3,568,000 after acquiring an additional 7,700 shares during the period.

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.