Terrestrial Energy (NASDAQ:IMSR) Rating Lowered to “Strong Sell” at Wall Street Zen

Terrestrial Energy (NASDAQ:IMSR) was downgraded by stock analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued to investors on Monday, Wall Street Zen reports.

Several other research analysts have also commented on IMSR. UBS Group set a $10.00 price objective on Terrestrial Energy in a report on Monday, October 26th. Weiss Ratings upgraded Terrestrial Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, October 26th. Lucid Cap Mkts raised shares of Terrestrial Energy to a “strong-buy” rating in a research report on Monday, October 26th. Roth Capital began coverage on Terrestrial Energy in a research report on Tuesday, September 22nd. They issued a “buy” rating and a $15.00 price objective on the stock. Finally, Lake Street Capital initiated coverage on shares of Terrestrial Energy in a research note on Wednesday, October 21st. They set a “buy” rating and a $15.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.83.

Terrestrial Energy Trading Down 9.3%

Shares of NASDAQ IMSR opened at $2.72 on Monday. Terrestrial Energy has a fifty-two week low of $2.44 and a fifty-two week high of $14.28. The stock has a fifty day moving average of $3.77 and a 200-day moving average of $6.06.

Terrestrial Energy (NASDAQ:IMSR) last announced its quarterly earnings results on Tuesday, November 10th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.05. As a group, sell-side analysts forecast that Terrestrial Energy will post -0.40 earnings per share for the current fiscal year.

Terrestrial Energy declared that its Board of Directors has authorized a share buyback plan on Tuesday, October 27th that authorizes the company to buy back $25 million in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Terrestrial Energy

In related news, CEO Simon Irish bought 16,900 shares of the company’s stock in a transaction that occurred on Tuesday, October 13th. The shares were bought at an average price of $3.01 per share, for a total transaction of $50,869.00. Following the completion of the acquisition, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 28.60% of the company’s stock.

Hedge Funds Weigh In On Terrestrial Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Creek Drive Management Group LLC lifted its holdings in shares of Terrestrial Energy by 48.6% during the 3rd quarter. Creek Drive Management Group LLC now owns 260,000 shares of the company’s stock valued at $1,011,000 after buying an additional 85,000 shares during the period. Landscape Capital Management L.L.C. bought a new stake in shares of Terrestrial Energy in the third quarter worth $594,000. Cornerstone Advisory LLC bought a new stake in shares of Terrestrial Energy in the third quarter worth $39,000. Periscope Capital Inc. purchased a new stake in Terrestrial Energy during the third quarter valued at $440,000. Finally, StoneX Group Inc. purchased a new stake in Terrestrial Energy during the third quarter valued at $67,000.

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.