Terrestrial Energy Inc. (NASDAQ:IMSR – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $11.83.
IMSR has been the subject of several research reports. Wall Street Zen lowered shares of Terrestrial Energy from a “sell” rating to a “strong sell” rating in a report on Monday. 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 lowered shares of Terrestrial Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. Lucid Cap Mkts raised shares of Terrestrial Energy to a “strong-buy” rating in a research note on Monday, October 26th. Finally, Lake Street Capital initiated coverage on shares of Terrestrial Energy in a research note on Wednesday, October 21st. They issued a “buy” rating and a $15.00 price target for the company.
Read Our Latest Report on Terrestrial Energy
Terrestrial Energy Stock Performance
Shares of IMSR stock opened at $2.72 on Wednesday. Terrestrial Energy has a fifty-two week low of $2.44 and a fifty-two week high of $14.28. The firm has a market cap of $288.13 million, a P/E ratio of -14.32 and a beta of 2.59. The business’s 50 day moving average price is $3.77 and its 200-day moving average price is $6.06.
Terrestrial Energy (NASDAQ:IMSR – Get Free Report) last announced its quarterly earnings results on Tuesday, November 10th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.05. As a group, equities analysts predict that Terrestrial Energy will post -0.40 EPS for the current year.
Terrestrial Energy announced that its board has authorized a stock buyback plan on Tuesday, October 27th that permits the company to buy back $25 million in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Share buyback plans are generally an indication that the company’s board believes its shares are undervalued.
Insider Buying and Selling at Terrestrial Energy
In other news, CEO Simon Irish bought 16,900 shares of Terrestrial Energy stock in a transaction on 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 acquisition, the chief executive officer owned 2,312,834 shares of the company’s stock, 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 28.60% of the company’s stock.
Institutional Investors Weigh In On Terrestrial Energy
Hedge funds have recently made changes to their positions in the company. WINTON GROUP Ltd raised its holdings 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 purchasing an additional 7,700 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Terrestrial Energy by 136.1% during the 1st quarter. Renaissance Technologies LLC now owns 407,900 shares of the company’s stock valued at $2,449,000 after buying an additional 235,100 shares in the last quarter. Creek Drive Management Group LLC grew its position in shares of Terrestrial Energy by 48.6% in the 3rd quarter. Creek Drive Management Group LLC now owns 260,000 shares of the company’s stock worth $1,011,000 after buying an additional 85,000 shares during the period. Landscape Capital Management L.L.C. purchased a new stake in shares of Terrestrial Energy in the 3rd quarter worth about $594,000. Finally, FNY Investment Advisers LLC grew its position in shares of Terrestrial Energy by 129.2% in the 2nd 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.
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.
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