Lucid Cap Mkts Upgrades Terrestrial Energy (NASDAQ:IMSR) to Strong-Buy

Terrestrial Energy (NASDAQ:IMSR) was upgraded by equities research analysts at Lucid Cap Mkts to a “strong-buy” rating in a note issued to investors on Monday, Zacks reports.

A number of other equities analysts also recently weighed in on the stock. Weiss Ratings upgraded shares of Terrestrial Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Wall Street Zen cut shares of Terrestrial Energy from a “sell” rating to a “strong sell” rating in a research note on Saturday. Roth Capital initiated coverage on shares of Terrestrial Energy in a research report on Tuesday, September 22nd. They issued a “buy” rating and a $15.00 price objective for the company. UBS Group set a $10.00 price objective on shares of Terrestrial Energy in a research report on Monday. 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 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.40.

Terrestrial Energy Stock Up 11.9%

NASDAQ:IMSR opened at $3.29 on Monday. The firm has a market capitalization of $348.53 million, a price-to-earnings ratio of -17.32 and a beta of 2.52. Terrestrial Energy has a twelve month low of $2.70 and a twelve month high of $21.00. The stock’s 50 day moving average price is $4.25 and its two-hundred day moving average price is $6.45.

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

Terrestrial Energy declared that its board has authorized a share repurchase program on Tuesday, October 27th that allows the company to buy back $25 million in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Share buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Terrestrial Energy

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

Institutional Investors Weigh In On Terrestrial Energy

Hedge funds have recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC acquired a new stake in shares of Terrestrial Energy during the 3rd quarter worth about $58,000. SkyView Investment Advisors LLC bought a new stake in shares of Terrestrial Energy during the 2nd quarter worth about $27,000. WINTON GROUP Ltd boosted its holdings 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 buying an additional 7,700 shares during the period. Engineers Gate Manager LP bought a new stake in shares of Terrestrial Energy during the 2nd quarter worth about $583,000. Finally, Bank of New York Mellon Corp acquired a new position in Terrestrial Energy in the 2nd quarter valued at about $120,000.

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.