Lightbridge (NASDAQ:LTBR) Shares Gap Up - Should You Buy?

Key Points

• Lightbridge Corporation shares opened higher at $21.50 after closing at $20.49, with a recent trade volume of 416,522 shares.
• Institutional investors and hedge funds increased their holdings in Lightbridge, with SBI Securities increasing its position by 60% during the second quarter.
• Company insiders have been actively selling shares, with notable transactions including a sale by EVP Andrey Mushakov and Director Sweta Chakraborty, indicating a 4.26% and 38.07% decrease in their stock ownership respectively.

Shares of Lightbridge Corporation (NASDAQ:LTBR - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $20.49, but opened at $21.50. Lightbridge shares last traded at $20.53, with a volume of 416,522 shares traded.

Lightbridge Trading Up 1.0%

The stock has a 50 day simple moving average of $15.75 and a 200-day simple moving average of $12.69. The firm has a market cap of $536.18 million, a P/E ratio of -24.82 and a beta of 1.93.

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 for the quarter.

Insider Buying and Selling at Lightbridge

In other Lightbridge news, EVP Andrey Mushakov sold 17,598 shares of the firm's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $20.04, for a total value of $352,663.92. Following the completion of the sale, the executive vice president owned 395,699 shares of the company's stock, valued at approximately $7,929,807.96. This trade represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sweta Chakraborty sold 20,000 shares of Lightbridge stock in a transaction on Friday, August 15th. The stock was sold at an average price of $15.15, for a total transaction of $303,000.00. Following the sale, the director owned 32,538 shares of the company's stock, valued at $492,950.70. The trade was a 38.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lightbridge

Several institutional investors and hedge funds have recently modified their holdings of LTBR. SBI Securities Co. Ltd. increased its position in Lightbridge by 60.0% during the second quarter. SBI Securities Co. Ltd. now owns 3,071 shares of the energy company's stock worth $41,000 after purchasing an additional 1,152 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Lightbridge during the 2nd quarter worth approximately $26,000. Legal & General Group Plc acquired a new stake in shares of Lightbridge during the 2nd quarter worth approximately $28,000. Bank of Montreal Can increased its stake in Lightbridge by 30.0% during the second quarter. Bank of Montreal Can now owns 13,000 shares of the energy company's stock worth $174,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in Lightbridge by 853.3% during the second quarter. Caitong International Asset Management Co. Ltd now owns 3,918 shares of the energy company's stock worth $52,000 after acquiring an additional 3,507 shares during the last quarter. Institutional investors and hedge funds 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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