Lightbridge (NASDAQ:LTBR) Stock Price Down 9.6% – What’s Next?

Shares of Lightbridge Corporation (NASDAQ:LTBR) dropped 9.6% during trading on Thursday . The stock traded as low as $15.50 and last traded at $15.42. Approximately 1,123,987 shares were traded during trading, a decline of 45% from the average daily volume of 2,047,371 shares. The stock had previously closed at $17.05.

Wall Street Analyst Weigh In

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

Lightbridge Trading Down 10.6%

The stock has a market capitalization of $493.33 million, a P/E ratio of -18.35 and a beta of 1.81. The business has a 50-day moving average price of $21.24 and a two-hundred day moving average price of $16.30.

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

Insider Activity

In other Lightbridge news, Director Jesse L. Funches sold 1,448 shares of the business’s stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $22.67, for a total transaction of $32,826.16. Following the completion of the transaction, the director directly owned 64,840 shares in the company, valued at $1,469,922.80. The trade was a 2.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sweta Chakraborty sold 1,948 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $26.73, for a total value of $52,070.04. Following the sale, the director owned 43,501 shares of the company’s stock, valued at $1,162,781.73. The trade was a 4.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 107,845 shares of company stock valued at $2,734,064 over the last quarter. 6.50% of the stock is owned by corporate insiders.

Institutional Trading of Lightbridge

Institutional investors and hedge funds have recently modified their holdings of the business. Exchange Traded Concepts LLC bought a new position in shares of Lightbridge in the second quarter worth about $7,856,000. Ameriprise Financial Inc. acquired a new position in Lightbridge during the 3rd quarter worth approximately $11,952,000. BNP Paribas Financial Markets increased its position in Lightbridge by 168.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 498,415 shares of the energy company’s stock worth $10,571,000 after purchasing an additional 312,605 shares in the last quarter. Geode Capital Management LLC lifted its stake in Lightbridge by 166.3% in the 2nd quarter. Geode Capital Management LLC now owns 473,765 shares of the energy company’s stock valued at $6,336,000 after purchasing an additional 295,890 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in Lightbridge by 93.1% in the third quarter. Two Sigma Investments LP now owns 592,030 shares of the energy company’s stock valued at $12,557,000 after buying an additional 285,471 shares in the last quarter. 9.14% of the stock is currently owned by institutional investors.

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.