Lightbridge (NASDAQ:LTBR) Shares Down 10.4% – Here’s What Happened

Lightbridge Corporation (NASDAQ:LTBR) traded down 10.4% on Thursday . The company traded as low as $17.99 and last traded at $18.0730. 661,001 shares were traded during mid-day trading, a decline of 68% from the average session volume of 2,063,201 shares. The stock had previously closed at $20.16.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lightbridge in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Lightbridge presently has a consensus rating of “Sell”.

Lightbridge Price Performance

The firm’s 50-day simple moving average is $20.92 and its 200 day simple moving average is $16.01. The firm has a market capitalization of $583.29 million, a price-to-earnings ratio of -21.87 and a beta of 1.81.

Lightbridge (NASDAQ:LTBR) last issued its quarterly earnings results on Wednesday, November 5th. The energy company reported ($0.16) earnings per share (EPS) for the quarter.

Insider Transactions at Lightbridge

In other news, Director Jesse L. Funches sold 1,448 shares of the company’s stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $22.67, for a total value of $32,826.16. Following the completion of the transaction, the director owned 64,840 shares of the company’s stock, valued at $1,469,922.80. This represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Andrey Mushakov sold 25,093 shares of Lightbridge stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $25.06, for a total value of $628,830.58. Following the transaction, the executive vice president directly owned 395,699 shares in the company, valued at $9,916,216.94. The trade was a 5.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 127,845 shares of company stock valued at $3,037,064. Company insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Lightbridge

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. acquired a new stake in Lightbridge during the second quarter worth approximately $26,000. Legal & General Group Plc acquired a new position in shares of Lightbridge during the second quarter valued at about $28,000. Russell Investments Group Ltd. bought a new position in Lightbridge in the 3rd quarter valued at about $53,000. SBI Securities Co. Ltd. raised its stake in shares of Lightbridge by 60.0% in the second quarter. SBI Securities Co. Ltd. now owns 3,071 shares of the energy company’s stock worth $41,000 after purchasing an additional 1,152 shares during the last quarter. Finally, Farther Finance Advisors LLC bought a new stake in Lightbridge during the third quarter worth $67,000. Institutional investors and hedge funds own 9.14% of the company’s stock.

Lightbridge Company Profile

Lightbridge Corporation, together with its subsidiaries, engages in developing nuclear fuel technology. It develops and commercializes metallic nuclear fuels. The company was formerly known as Thorium Power, Ltd. and changed its name to Lightbridge Corporation in September 2009. Lightbridge Corporation is headquartered in Reston, Virginia.