Terrestrial Energy (NASDAQ:IMSR) Rating Lowered to “Market Perform” at Northland Securities

Terrestrial Energy (NASDAQ:IMSR) was downgraded by equities research analysts at Northland Securities from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday, MarketBeat Ratings reports. They presently have a $3.25 price target on the stock. Northland Securities‘s price objective indicates a potential upside of 19.49% from the stock’s previous close.

A number of other research analysts have also recently commented on IMSR. Wall Street Zen cut shares of Terrestrial Energy from a “sell” rating to a “strong sell” rating in a research note on Monday. Weiss Ratings lowered Terrestrial Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. Lucid Cap Mkts upgraded Terrestrial Energy to a “strong-buy” rating in a research note on Monday, October 26th. Wedbush initiated coverage on Terrestrial Energy in a report on Tuesday, November 3rd. They issued a “neutral” rating and a $4.00 target price for the company. Finally, Roth Capital initiated coverage on Terrestrial Energy in a research report on Tuesday, September 22nd. They set a “buy” rating and a $15.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $9.88.

Terrestrial Energy Stock Down 9.3%

Shares of NASDAQ IMSR opened at $2.72 on Wednesday. Terrestrial Energy has a 12 month low of $2.44 and a 12 month high of $14.28. The company 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 is $3.77 and its two-hundred day moving average is $6.06.

Terrestrial Energy (NASDAQ:IMSR) last released its earnings results on Tuesday, November 10th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.05. Sell-side analysts expect that Terrestrial Energy will post -0.40 earnings per share for the current fiscal year.

Terrestrial Energy declared that its board has initiated a share repurchase plan on Tuesday, October 27th that permits the company to repurchase $25 million in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Terrestrial Energy

In other Terrestrial Energy news, CEO Simon Irish purchased 16,900 shares of the firm’s stock in a transaction that occurred on Tuesday, October 13th. The shares were acquired at an average cost of $3.01 per share, for a total transaction of $50,869.00. Following the transaction, the chief executive officer directly 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 purchase was disclosed in a filing with the SEC, which is available through this link. 28.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Terrestrial Energy

Several institutional investors have recently bought and sold shares of IMSR. WINTON GROUP Ltd boosted its stake 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 increased its stake in shares of Terrestrial Energy by 136.1% in the first 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 increased its stake in shares of Terrestrial Energy by 48.6% in the third quarter. Creek Drive Management Group LLC now owns 260,000 shares of the company’s stock valued at $1,011,000 after buying an additional 85,000 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of Terrestrial Energy in the third quarter valued at $594,000. Finally, FNY Investment Advisers LLC raised its holdings in shares of Terrestrial Energy by 129.2% in the second quarter. FNY Investment Advisers LLC now owns 151,650 shares of the company’s stock valued at $1,073,000 after buying an additional 85,490 shares during the last quarter.

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.