Terrestrial Energy (NASDAQ:IMSR) Stock Rated “Neutral” in New Coverage at Wedbush

Stock analysts at Wedbush initiated coverage on shares of Terrestrial Energy (NASDAQ:IMSR) in a research report issued on Tuesday, Briefing.com reports. The firm set a “neutral” rating and a $4.00 price target on the stock. Wedbush‘s target price would indicate a potential upside of 33.78% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Roth Capital started coverage on shares of Terrestrial Energy in a research note on Tuesday, September 22nd. They issued a “buy” rating and a $15.00 price objective for the company. Wall Street Zen raised shares of Terrestrial Energy from a “strong sell” rating to a “sell” rating in a report on Sunday. Weiss Ratings upgraded shares of Terrestrial Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, October 26th. Lake Street Capital started coverage on shares of Terrestrial Energy in a report on Wednesday, October 21st. They issued a “buy” rating and a $15.00 target price for the company. Finally, Lucid Cap Mkts raised shares of Terrestrial Energy to a “strong-buy” rating in a report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Terrestrial Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.83.

Terrestrial Energy Stock Performance

Terrestrial Energy stock opened at $2.99 on Tuesday. Terrestrial Energy has a one year low of $2.70 and a one year high of $16.38. The business has a fifty day moving average of $4.07 and a two-hundred day moving average of $6.32. The company has a market cap of $316.75 million, a P/E ratio of -15.74 and a beta of 2.52.

Terrestrial Energy (NASDAQ:IMSR) last issued its earnings results on Tuesday, August 11th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.01. Sell-side analysts predict that Terrestrial Energy will post -0.50 EPS for the current year.

Terrestrial Energy announced that its board has authorized a stock buyback plan on Tuesday, October 27th that permits the company to buy back $25 million in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Share repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Terrestrial Energy

In other news, CEO Simon Irish purchased 16,900 shares of the business’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 purchase, the chief executive officer directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 28.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Terrestrial Energy

Hedge funds have recently added to or reduced their stakes in the business. Alps Advisors Inc. acquired a new position in Terrestrial Energy during the third quarter worth about $46,000. Commonwealth Equity Services LLC purchased a new stake in shares of Terrestrial Energy in the third quarter valued at about $470,000. Valeo Financial Advisors LLC purchased a new stake in shares of Terrestrial Energy in the third quarter valued at about $58,000. SkyView Investment Advisors LLC acquired a new stake in shares of Terrestrial Energy in the second quarter valued at approximately $27,000. Finally, WINTON GROUP Ltd grew its position in shares of 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 purchasing an additional 7,700 shares during the last quarter.

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.