Lightbridge Corporation (NASDAQ:LTBR - Get Free Report)'s share price rose 9% on Thursday . The stock traded as high as $23.29 and last traded at $23.19. Approximately 598,612 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 2,091,365 shares. The stock had previously closed at $21.27.
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 equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Lightbridge presently has an average rating of "Sell".
Check Out Our Latest Stock Analysis on LTBR
Lightbridge Stock Performance
The stock has a market cap of $598.49 million, a PE ratio of -27.56 and a beta of 1.93. The stock's 50-day moving average is $18.55 and its two-hundred day moving average is $14.30.
Lightbridge (NASDAQ:LTBR - Get Free Report) last posted 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, Director Jesse L. Funches sold 1,448 shares of the stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $22.67, for a total transaction of $32,826.16. Following the sale, the director directly owned 64,840 shares in the company, valued at $1,469,922.80. This represents a 2.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Seth Grae sold 32,296 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $28.07, for a total transaction of $906,548.72. Following the sale, the chief executive officer owned 753,316 shares in the company, valued at approximately $21,145,580.12. This trade represents a 4.11% 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 valued at $2,984,994 in the last quarter. Corporate insiders own 6.50% of the company's stock.
Institutional Investors Weigh In On Lightbridge
A number of hedge funds have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. lifted its holdings in Lightbridge by 60.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 3,071 shares of the energy company's stock worth $41,000 after buying an additional 1,152 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Lightbridge during the 2nd quarter worth approximately $26,000. Legal & General Group Plc acquired a new stake in shares of Lightbridge in the 2nd quarter valued at $28,000. Bank of Montreal Can raised its holdings in shares of 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 in the last quarter. Finally, Farther Finance Advisors LLC acquired a new stake in shares of Lightbridge in the 3rd quarter valued at $67,000. 9.14% of the stock is currently owned by institutional investors and hedge funds.
About Lightbridge
(
Get Free Report)
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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