Exchange Traded Concepts LLC Takes $7.86 Million Position in Lightbridge Corporation $LTBR

Key Points

• Exchange Traded Concepts LLC acquired 587,621 shares of Lightbridge Corporation, valued at approximately $7.86 million, representing about 2.56% of the company's stock.
• Lightbridge's stock recently opened at $15.14, with a one-year trading range between $2.39 and $18.80.
• Director Sweta Chakraborty sold 20,000 shares for $303,000, resulting in a 38.07% decrease in their ownership stake in the company.

Exchange Traded Concepts LLC acquired a new stake in shares of Lightbridge Corporation (NASDAQ:LTBR - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 587,621 shares of the energy company's stock, valued at approximately $7,856,000. Exchange Traded Concepts LLC owned about 2.56% of Lightbridge as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Two Sigma Investments LP purchased a new stake in shares of Lightbridge in the fourth quarter worth $1,106,000. Squarepoint Ops LLC bought a new stake in shares of Lightbridge in the 4th quarter worth about $55,000. Northern Trust Corp lifted its holdings in shares of Lightbridge by 65.6% in the 4th quarter. Northern Trust Corp now owns 73,312 shares of the energy company's stock worth $347,000 after acquiring an additional 29,046 shares during the last quarter. Two Sigma Advisers LP purchased a new position in shares of Lightbridge during the fourth quarter worth approximately $466,000. Finally, Geneos Wealth Management Inc. purchased a new position in Lightbridge during the 1st quarter valued at about $471,000. 9.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lightbridge

In related news, Director Sweta Chakraborty sold 20,000 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $15.15, for a total value of $303,000.00. Following the sale, the director directly owned 32,538 shares in the company, valued at $492,950.70. The trade was a 38.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.50% of the company's stock.

Lightbridge Stock Up 20.6%

Shares of NASDAQ LTBR traded up $3.12 during trading hours on Friday, hitting $18.26. 5,543,646 shares of the stock were exchanged, compared to its average volume of 1,228,646. The firm has a fifty day moving average price of $14.69 and a 200-day moving average price of $12.06. The company has a market cap of $473.30 million, a PE ratio of -22.00 and a beta of 1.89. Lightbridge Corporation has a 12 month low of $2.49 and a 12 month high of $18.80.

Lightbridge (NASDAQ:LTBR - Get Free Report) last issued its earnings results on Monday, August 11th. The energy company reported ($0.16) EPS for the quarter.

About Lightbridge

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.