BlackRock Inc. Takes Position in Lightbridge Corporation $LTBR

Key Points

• BlackRock acquired 2.57 million Lightbridge shares during the second quarter, worth approximately $22.6 million and representing a 7.31% stake. Institutional investors collectively own 9.14% of the company.
• Lightbridge director Mark Robert Tobin sold 15,000 shares at an average price of $8.99, reducing his ownership by 18.37%; corporate insiders own 5.40% of the stock.
• Lightbridge shares opened at $7.57, well below their 200-day moving average of $10.42, while the company reported a quarterly loss of $0.18 per share. Analyst sentiment remains negative, with the stock carrying an average “Sell” rating.

BlackRock Inc. purchased a new position in shares of Lightbridge Corporation (NASDAQ:LTBR - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,568,869 shares of the energy company's stock, valued at approximately $22,580,000. BlackRock Inc. owned 7.31% of Lightbridge as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. CrossGen Wealth LLC acquired a new stake in Lightbridge in the fourth quarter valued at $26,000. Federated Hermes Inc. lifted its holdings in Lightbridge by 266.6% during the 4th quarter. Federated Hermes Inc. now owns 2,086 shares of the energy company's stock worth $26,000 after buying an additional 1,517 shares during the period. Legal & General Group Plc acquired a new position in Lightbridge during the 2nd quarter worth about $28,000. Advisory Services Network LLC acquired a new position in Lightbridge during the 3rd quarter worth about $50,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Lightbridge in the 3rd quarter valued at about $53,000. Institutional investors own 9.14% of the company's stock.

Insider Buying and Selling

In related news, Director Mark Robert Tobin sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $8.99, for a total transaction of $134,850.00. Following the completion of the sale, the director owned 66,669 shares of the company's stock, valued at $599,354.31. This trade represents a 18.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.40% of the stock is owned by corporate insiders.

Lightbridge Stock Performance

Shares of NASDAQ LTBR opened at $7.57 on Thursday. The company's 50 day moving average price is $8.26 and its 200-day moving average price is $10.42. Lightbridge Corporation has a 52-week low of $6.92 and a 52-week high of $31.33. The company has a market capitalization of $283.57 million, a P/E ratio of -9.58 and a beta of 2.13.

Lightbridge (NASDAQ:LTBR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The energy company reported ($0.18) earnings per share for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Lightbridge in a research note on Friday, July 17th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of "Sell".

Lightbridge Profile

Lightbridge Corporation is a nuclear energy technology company focused on developing advanced nuclear fuel designs to enhance the safety, efficiency and economic performance of existing and new nuclear power reactors. The company's core technology centers on a patented metallic fuel system that replaces conventional uranium oxide fuel pellets with a uranium-zirconium alloy, configured in a helical rod design. This proprietary fuel form is intended to enable higher burnup rates, reduced fuel cycle costs and improved thermal conductivity, thereby addressing key challenges in the global nuclear industry.

Since its inception, Lightbridge has conducted extensive research and development in collaboration with national laboratories, regulatory agencies and reactor operators.

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