Terrestrial Energy (NASDAQ:IMSR) Research Coverage Started at Wedbush

Wedbush assumed coverage on shares of Terrestrial Energy (NASDAQ:IMSR) in a research report released on Tuesday morning, Marketbeat Ratings reports. The firm issued a neutral rating and a $4.00 target price on the stock.

Several other equities research analysts also recently commented on IMSR. Lake Street Capital began coverage on shares of Terrestrial Energy in a research report on Wednesday, October 21st. They issued a “buy” rating and a $15.00 price target for the company. 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. Lucid Cap Mkts upgraded shares of Terrestrial Energy to a “strong-buy” rating in a research report on Monday, October 26th. Wall Street Zen raised shares of Terrestrial Energy from a “strong sell” rating to a “sell” rating in a research note on Sunday, November 1st. Finally, UBS Group set a $10.00 target price on Terrestrial Energy in a report on Monday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.83.

Terrestrial Energy Stock Down 10.5%

IMSR stock opened at $2.57 on Tuesday. Terrestrial Energy has a one year low of $2.44 and a one year high of $15.49. The firm has a 50-day moving average of $3.91 and a two-hundred day moving average of $6.19.

Terrestrial Energy (NASDAQ:IMSR) last announced 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. As a group, equities research analysts predict that Terrestrial Energy will post -0.40 earnings per share for the current fiscal year.

Terrestrial Energy announced that its Board of Directors has initiated a share repurchase plan on Tuesday, October 27th that authorizes the company to repurchase $25 million in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Share buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity at Terrestrial Energy

In related news, CEO Simon Irish purchased 16,900 shares of the stock in a transaction dated Tuesday, October 13th. The shares were acquired at an average cost of $3.01 per share, for a total transaction of $50,869.00. Following the acquisition, the chief executive officer directly owned 2,312,834 shares in the company, valued at approximately $6,961,630.34. The trade was a 0.74% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 28.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Terrestrial Energy

Several hedge funds and other institutional investors have recently modified their holdings of the company. WINTON GROUP Ltd raised its stake in shares of Terrestrial Energy by 1.6% during the 2nd quarter. WINTON GROUP Ltd now owns 504,000 shares of the company’s stock worth $3,568,000 after purchasing an additional 7,700 shares in the last quarter. Renaissance Technologies LLC lifted its holdings 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 valued at $2,449,000 after buying an additional 235,100 shares during the last quarter. FNY Investment Advisers LLC lifted its holdings in shares of Terrestrial Energy by 129.2% during the 2nd quarter. FNY Investment Advisers LLC now owns 151,650 shares of the company’s stock valued at $1,073,000 after buying 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 1st quarter. Bank of America Corp DE now owns 132,750 shares of the company’s stock valued at $797,000 after buying an additional 65,021 shares in the last quarter. Finally, Yorkville Advisors Global LP bought a new stake in shares of Terrestrial Energy in the 1st quarter valued at approximately $733,000.

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.