Lightbridge (NASDAQ:LTBR) Stock Price Crosses Above 200-Day Moving Average After Insider Selling

Key Points

• Lightbridge Corporation's stock price surged above its 200-day moving average, reaching a high of $26.74 before closing at $25.69.
• Despite the recent movement, Weiss Ratings has maintained a "sell (d-)" rating on Lightbridge shares, highlighting a generally negative outlook from analysts.
• Institutional investors have recently shown increased interest, with several firms, including SBI Securities Co. Ltd., significantly boosting their stakes in the company.

Shares of Lightbridge Corporation (NASDAQ:LTBR - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday following insider buying activity. The stock has a two hundred day moving average of $13.63 and traded as high as $26.74. Lightbridge shares last traded at $25.69, with a volume of 2,646,187 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lightbridge in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of "Sell".

Lightbridge Trading Down 4.5%

The stock has a market capitalization of $665.88 million, a price-to-earnings ratio of -30.95 and a beta of 1.93. The stock has a 50-day moving average price of $17.39 and a 200 day moving average price of $13.63.

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

Institutional Investors Weigh In On Lightbridge

Institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. lifted its stake in Lightbridge by 60.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,071 shares of the energy company's stock valued at $41,000 after buying an additional 1,152 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in Lightbridge in the 2nd quarter worth approximately $26,000. Legal & General Group Plc purchased a new position in Lightbridge in the second quarter worth approximately $28,000. Bank of Montreal Can increased its holdings in Lightbridge by 30.0% in the 2nd quarter. Bank of Montreal Can now owns 13,000 shares of the energy company's stock valued at $174,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Farther Finance Advisors LLC acquired a new stake in Lightbridge in the 3rd quarter valued at approximately $67,000. 9.14% of the stock is currently owned by institutional investors and hedge funds.

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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