Terrestrial Energy (NASDAQ:IMSR) Cut to Strong Sell at Wall Street Zen

Wall Street Zen downgraded shares of Terrestrial Energy (NASDAQ:IMSR – Free Report) from a sell rating to a strong sell rating in a research note released on Monday morning,Wall Street Zen reports.

A number of other research analysts also recently issued reports on the company. Weiss Ratings upgraded Terrestrial Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, October 26th. Roth Capital initiated coverage on Terrestrial Energy in a research report on Tuesday, September 22nd. They set a “buy” rating and a $15.00 price target for the company. Lake Street Capital began coverage on Terrestrial Energy in a research report on Wednesday, October 21st. They set a “buy” rating and a $15.00 price target for the company. UBS Group set a $10.00 price objective on Terrestrial Energy in a report on Monday, October 26th. Finally, Wedbush began coverage on Terrestrial Energy in a research report on Tuesday, November 3rd. They issued a “neutral” rating and a $4.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $9.88.

Get Our Latest Stock Analysis on Terrestrial Energy

Terrestrial Energy Stock Performance

IMSR stock opened at $2.56 on Monday. The firm’s 50-day moving average price is $3.72 and its two-hundred day moving average price is $6.01. Terrestrial Energy has a 12-month low of $2.43 and a 12-month high of $14.28.

Terrestrial Energy (NASDAQ:IMSR – Get Free Report) last issued its quarterly earnings data on Tuesday, November 10th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.05. Equities research analysts anticipate that Terrestrial Energy will post -0.40 earnings per share for the current fiscal year.

Terrestrial Energy declared that its Board of Directors has approved a stock buyback program on Tuesday, October 27th that authorizes the company to repurchase $25 million in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Insider Activity at Terrestrial Energy

In related news, CEO Simon Irish bought 16,900 shares of the company’s stock in a transaction dated Tuesday, October 13th. The stock was purchased at an average cost of $3.01 per share, with a total value of $50,869.00. Following the transaction, the chief executive officer owned 2,312,834 shares in the company, valued at approximately $6,961,630.34. This trade represents a 0.74% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 28.60% of the company’s stock.

Institutional Investors Weigh In On Terrestrial Energy

A number of large investors have recently modified their holdings of the stock. WINTON GROUP Ltd raised its stake in Terrestrial Energy by 1.6% in the second quarter. WINTON GROUP Ltd now owns 504,000 shares of the company’s stock worth $3,568,000 after buying an additional 7,700 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Terrestrial Energy by 136.1% in the first 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. FNY Investment Advisers LLC lifted its holdings in Terrestrial Energy by 129.2% in the second quarter. FNY Investment Advisers LLC now owns 151,650 shares of the company’s stock worth $1,073,000 after buying an additional 85,490 shares during the period. Creek Drive Management Group LLC boosted its position in 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 acquiring an additional 85,000 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Terrestrial Energy by 96.0% during the 1st quarter. Bank of America Corp DE now owns 132,750 shares of the company’s stock valued at $797,000 after acquiring an additional 65,021 shares in the last quarter.

Latest Terrestrial Energy News

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Terrestrial Energy Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Terrestrial Energy (NASDAQ:IMSR)

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