Lightbridge (NASDAQ:LTBR) Shares Down 10.1% - What's Next?

Key Points

• Lightbridge Corporation shares fell by 10.1% to $23.73, with a trading volume significantly lower than the average.
• Weiss Ratings has restated a "sell (d-)" rating for Lightbridge, continuing a consensus rating of "Sell" among analysts.
• Insider trading saw notable activity as CEO Seth Grae sold over 32,000 shares, reducing his stake in the company by 4.11%.

Shares of Lightbridge Corporation (NASDAQ:LTBR - Get Free Report) dropped 10.1% during mid-day trading on Friday . The company traded as low as $23.85 and last traded at $23.73. Approximately 1,307,807 shares traded hands during trading, a decline of 37% from the average daily volume of 2,092,485 shares. The stock had previously closed at $26.41.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Lightbridge in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Sell".

Lightbridge Trading Down 11.3%

The company has a market cap of $607.02 million, a P/E ratio of -28.23 and a beta of 1.93. The firm's fifty day moving average price is $17.89 and its 200-day moving average price is $13.85.

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.

Insider Activity at Lightbridge

In other Lightbridge news, CEO Seth Grae sold 32,296 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $28.07, for a total transaction of $906,548.72. Following the completion of the transaction, the chief executive officer owned 753,316 shares in the company, valued at $21,145,580.12. This trade represents a 4.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrey Mushakov sold 25,093 shares of the firm's stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $25.06, for a total transaction of $628,830.58. Following the completion of the transaction, the executive vice president owned 395,699 shares of the company's stock, valued at $9,916,216.94. This trade represents a 5.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 125,897 shares of company stock worth $2,984,994 over the last quarter. 6.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LTBR. SBI Securities Co. Ltd. increased its holdings in Lightbridge by 60.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,071 shares of the energy company's stock worth $41,000 after acquiring an additional 1,152 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Lightbridge in the 2nd quarter worth approximately $26,000. Legal & General Group Plc purchased a new stake in Lightbridge in the 2nd quarter worth approximately $28,000. Bank of Montreal Can boosted its stake in Lightbridge by 30.0% in the 2nd quarter. Bank of Montreal Can now owns 13,000 shares of the energy company's stock worth $174,000 after purchasing an additional 3,000 shares during the period. Finally, Farther Finance Advisors LLC bought a new position in Lightbridge in the 3rd quarter worth approximately $67,000. Institutional investors own 9.14% of the company's stock.

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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