Terrestrial Energy (NASDAQ:IMSR) Board of Directors Declares Share Buyback Program

Terrestrial Energy (NASDAQ:IMSR) declared that its Board of Directors has authorized a share buyback plan on Tuesday, October 27th, RTT News reports. The company plans 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.

Terrestrial Energy Stock Up 11.9%

IMSR stock traded up $0.35 during trading on Tuesday, reaching $3.29. The stock had a trading volume of 3,743,441 shares. Terrestrial Energy has a 52 week low of $2.70 and a 52 week high of $21.00. The stock’s 50 day moving average is $4.25 and its two-hundred day moving average is $6.45.

Terrestrial Energy (NASDAQ:IMSR) last announced its earnings results on Tuesday, August 11th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.01. As a group, analysts forecast that Terrestrial Energy will post -0.50 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on IMSR shares. Wall Street Zen cut shares of Terrestrial Energy from a “sell” rating to a “strong sell” rating in a report on Saturday. Roth Capital assumed coverage on shares of Terrestrial Energy in a research report on Tuesday, September 22nd. They issued a “buy” rating and a $15.00 target price for the company. Weiss Ratings upgraded shares of Terrestrial Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Lake Street Capital assumed 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 for the company. Finally, UBS Group set a $10.00 price target on Terrestrial Energy in a report on Monday. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Terrestrial Energy presently has a consensus rating of “Moderate Buy” and an average target price of $13.40.

Insider Activity at Terrestrial Energy

In other Terrestrial Energy news, CEO Simon Irish acquired 16,900 shares of the stock in a transaction dated Tuesday, October 13th. The shares were purchased at an average price of $3.01 per share, for a total transaction of $50,869.00. Following the purchase, the chief executive officer directly owned 2,312,834 shares of the company’s stock, valued at approximately $6,961,630.34. This trade represents a 0.74% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 28.60% of the stock is owned by insiders.

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.