Lightbridge (NASDAQ:LTBR) Sets New 12-Month High - Here's What Happened

Key Points

• Lightbridge Corporation's stock reached a new 52-week high of $20.05 before closing at $19.70, representing significant trading volume of nearly 3 million shares.
• The company's market capitalization stands at $522.29 million, with a notable price-to-earnings ratio of -24.28, indicating it is currently not profitable.
• Institutional investors are actively increasing their stakes in Lightbridge, with several institutions boosting their positions by as much as 853.3% during the second quarter.

Lightbridge Corporation (NASDAQ:LTBR - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $20.05 and last traded at $19.70, with a volume of 2988989 shares trading hands. The stock had previously closed at $18.26.

Lightbridge Trading Up 2.3%

The stock has a 50 day moving average of $14.81 and a 200-day moving average of $12.16. The company has a market capitalization of $534.34 million, a P/E ratio of -25.09 and a beta of 1.89.

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

Insider Buying and Selling

In other Lightbridge news, Director Sweta Chakraborty sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The stock was 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 of the company's stock, valued at approximately $492,950.70. This trade represents a 38.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.80% of the company's stock.

Institutional Investors Weigh In On Lightbridge

Several institutional investors and hedge funds have recently modified their holdings of the company. Exchange Traded Concepts LLC acquired a new stake in shares of Lightbridge in the 2nd quarter valued at approximately $7,856,000. Geode Capital Management LLC boosted its holdings in Lightbridge by 166.3% in the second quarter. Geode Capital Management LLC now owns 473,765 shares of the energy company's stock valued at $6,336,000 after acquiring an additional 295,890 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of Lightbridge during the fourth quarter worth about $1,106,000. Baird Financial Group Inc. acquired a new position in shares of Lightbridge in the second quarter worth about $3,102,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Lightbridge in the 2nd quarter valued at approximately $2,484,000. Hedge funds and other institutional investors 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.