Jesse Funches Sells 1,448 Shares of Lightbridge (NASDAQ:LTBR) Stock

Key Points

• Jesse Funches, a director at Lightbridge Corporation, sold 1,448 shares at an average price of $22.67, resulting in a total transaction of $32,826.16, which represents a 2.18% reduction in his ownership.
• Following the sale, Funches still holds 64,840 shares, valued at approximately $1.47 million.
• Despite recent stock fluctuations, Lightbridge has an average rating of "Sell", with Weiss Ratings reaffirming this stance in their latest report.

Lightbridge Corporation (NASDAQ:LTBR - Get Free Report) Director Jesse Funches sold 1,448 shares of Lightbridge stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $22.67, for a total transaction of $32,826.16. Following the transaction, the director directly owned 64,840 shares of the company's stock, valued at $1,469,922.80. The trade was a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Lightbridge Stock Up 2.1%

NASDAQ:LTBR traded up $0.47 during mid-day trading on Tuesday, hitting $23.15. 2,371,400 shares of the stock traded hands, compared to its average volume of 2,062,002. Lightbridge Corporation has a 52 week low of $2.92 and a 52 week high of $24.78. The stock has a market capitalization of $599.93 million, a price-to-earnings ratio of -27.89 and a beta of 1.93. The firm's 50 day moving average is $16.15 and its two-hundred day moving average is $13.00.

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

Institutional Trading of Lightbridge

A number of hedge funds have recently modified their holdings of the stock. Exchange Traded Concepts LLC purchased a new position in Lightbridge during the second quarter valued at approximately $7,856,000. Geode Capital Management LLC increased its holdings in shares of Lightbridge by 166.3% during 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 in the last quarter. Baird Financial Group Inc. acquired a new position in shares of Lightbridge in the 2nd quarter valued at $3,102,000. BNP Paribas Financial Markets purchased a new stake in Lightbridge during the second quarter worth $2,484,000. Finally, Tortoise Investment Management LLC grew its position in Lightbridge by 132.6% during the first quarter. Tortoise Investment Management LLC now owns 163,521 shares of the energy company's stock valued at $1,220,000 after buying an additional 93,225 shares during the period. Hedge funds and other institutional investors own 9.14% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lightbridge in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of "Sell".

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.

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