Terrestrial Energy (NASDAQ:IMSR) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen lowered shares of Terrestrial Energy (NASDAQ:IMSR) from a sell rating to a strong sell rating in a report published on Monday,Wall Street Zen reports.

Other equities research analysts also recently issued reports about the company. UBS Group set a $10.00 target price on Terrestrial Energy in a research report on Monday, October 26th. Weiss Ratings upgraded Terrestrial Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, October 26th. Wedbush assumed coverage on Terrestrial Energy in a report on Tuesday, November 3rd. They set a “neutral” rating and a $4.00 price target for the company. Lucid Cap Mkts raised Terrestrial Energy to a “strong-buy” rating in a research note on Monday, October 26th. Finally, Roth Capital started coverage on Terrestrial Energy in a report on Tuesday, September 22nd. They set a “buy” rating and a $15.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Terrestrial Energy presently has an average rating of “Moderate Buy” and a consensus target price of $11.83.

Terrestrial Energy Trading Up 5.6%

Shares of IMSR stock opened at $3.00 on Monday. Terrestrial Energy has a 52 week low of $2.44 and a 52 week high of $14.29. The company’s fifty day simple moving average is $3.81 and its two-hundred day simple moving average is $6.11.

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. On average, sell-side analysts forecast that Terrestrial Energy will post -0.40 EPS for the current fiscal year.

Terrestrial Energy declared that its Board of Directors has approved a share buyback plan on Tuesday, October 27th that allows the company to repurchase $25 million in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Share repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

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

Institutional Investors Weigh In On Terrestrial Energy

Several institutional investors have recently modified their holdings of the stock. SkyView Investment Advisors LLC purchased a new position in shares of Terrestrial Energy in the 2nd quarter worth approximately $27,000. Cornerstone Advisory LLC bought a new position in shares of Terrestrial Energy during the 3rd quarter valued at approximately $39,000. Alps Advisors Inc. purchased a new stake in Terrestrial Energy during the 3rd quarter valued at $46,000. Valeo Financial Advisors LLC purchased a new stake in Terrestrial Energy during the 3rd quarter valued at $58,000. Finally, StoneX Group Inc. purchased a new stake in Terrestrial Energy during the 3rd quarter valued at $67,000.

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.