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

Wall Street Zen upgraded shares of Terrestrial Energy (NASDAQ:IMSR) from a strong sell rating to a sell rating in a report issued on Sunday,Wall Street Zen reports.

A number of other equities analysts also recently weighed in on the stock. Weiss Ratings raised shares of Terrestrial Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, October 26th. Lucid Cap Mkts upgraded shares of Terrestrial Energy to a “strong-buy” rating in a research note on Monday, October 26th. Roth Capital began coverage on Terrestrial Energy in a research report on Tuesday, September 22nd. They set a “buy” rating and a $15.00 target price on the stock. UBS Group set a $10.00 price target on Terrestrial Energy in a report on Monday, October 26th. Finally, 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 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Terrestrial Energy currently has an average rating of “Moderate Buy” and an average target price of $11.83.

Terrestrial Energy Price Performance

IMSR stock opened at $2.86 on Friday. The stock’s fifty day simple moving average is $4.02 and its two-hundred day simple moving average is $6.28. Terrestrial Energy has a 1-year low of $2.70 and a 1-year high of $16.00.

Terrestrial Energy (NASDAQ:IMSR) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. On average, equities research analysts forecast that Terrestrial Energy will post -0.50 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In other news, CEO Simon Irish bought 16,900 shares of the firm’s 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 acquisition, the chief executive officer owned 2,312,834 shares of the company’s stock, valued at approximately $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 this link. Company insiders own 28.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. SkyView Investment Advisors LLC purchased a new stake in shares of Terrestrial Energy in the second quarter worth $27,000. Alps Advisors Inc. bought a new stake in Terrestrial Energy during the third quarter valued at $46,000. Valeo Financial Advisors LLC purchased a new position in Terrestrial Energy during the second quarter worth about $106,000. Flax Pond Capital LLC purchased a new position in Terrestrial Energy during the first quarter worth about $96,000. Finally, Bank of New York Mellon Corp purchased a new position in Terrestrial Energy during the second quarter worth about $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.