Terrestrial Energy (NASDAQ:IMSR) Stock Rating Raised to “Strong-Buy” at Lucid Cap Mkts

Lucid Cap Mkts upgraded shares of Terrestrial Energy (NASDAQ:IMSR) to a strong-buy rating in a research note released on Monday morning,Zacks reports.

IMSR has been the subject of several other research reports. Roth Capital began coverage on Terrestrial Energy in a research note on Tuesday, September 22nd. They set 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. UBS Group set a $10.00 price target on shares of Terrestrial Energy in a research note on Monday. Lake Street Capital started coverage on shares of Terrestrial Energy in a report on Wednesday, October 21st. They set a “buy” rating and a $15.00 price target on the stock. Finally, Wall Street Zen cut shares of Terrestrial Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday. One equities research 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 stock. According to MarketBeat.com, Terrestrial Energy presently has a consensus rating of “Moderate Buy” and an average price target of $13.40.

Terrestrial Energy Stock Performance

Terrestrial Energy stock opened at $3.29 on Monday. Terrestrial Energy has a 52 week low of $2.70 and a 52 week high of $21.00. The stock has a market capitalization of $348.53 million, a P/E ratio of -17.32 and a beta of 2.52. The stock has a fifty day moving average of $4.25 and a 200-day moving average of $6.45.

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

Terrestrial Energy declared that its Board of Directors has initiated a share repurchase program on Tuesday, October 27th that permits the company to repurchase $25 million in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Share repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, CEO Simon Irish bought 16,900 shares of the company’s stock in a transaction on Tuesday, October 13th. The stock was purchased at an average cost of $3.01 per share, for a total transaction of $50,869.00. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 28.60% of the company’s stock.

Institutional Trading of Terrestrial Energy

Several hedge funds and other institutional investors have recently made changes to their positions in IMSR. Renaissance Technologies LLC boosted its position in Terrestrial Energy by 136.1% during the 1st 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. Yorkville Advisors Global LP bought a new stake in Terrestrial Energy during the 1st quarter worth approximately $733,000. FNY Investment Advisers LLC increased its position in Terrestrial Energy by 129.2% in the 2nd quarter. FNY Investment Advisers LLC now owns 151,650 shares of the company’s stock valued at $1,073,000 after acquiring an additional 85,490 shares during the period. Swiss National Bank acquired a new position in Terrestrial Energy in the 1st quarter valued at approximately $340,000. Finally, Flax Pond Capital LLC acquired a new position in Terrestrial Energy in the 1st quarter valued at approximately $96,000.

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.