Lightbridge (NASDAQ:LTBR) Trading Down 5.8% Following Insider Selling

Key Points

• Shares of Lightbridge Corporation (NASDAQ:LTBR) fell 5.8% after insider selling by EVP Andrey Mushakov, who divested 17,598 shares at an average price of $20.04.
• The company's stock volume experienced a 75% decline from its average session volume, trading only 507,479 shares during mid-day trading.
• Lightbridge reported a quarterly loss with earnings per share of ($0.16), reflective of its challenges as it develops nuclear fuel technology.

Shares of Lightbridge Corporation (NASDAQ:LTBR - Get Free Report) traded down 5.8% on Wednesday following insider selling activity. The stock traded as low as $19.29 and last traded at $19.65. 507,479 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 2,005,131 shares. The stock had previously closed at $20.85.

Specifically, EVP Andrey Mushakov sold 17,598 shares of Lightbridge stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $20.04, for a total transaction 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. The trade was a 4.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Lightbridge Stock Performance

The firm has a market cap of $495.49 million, a P/E ratio of -23.03 and a beta of 1.89. The firm's fifty day moving average is $14.96 and its 200 day moving average is $12.22.

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.

Hedge Funds Weigh In On Lightbridge

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. bought a new stake in shares of Lightbridge during the 2nd quarter valued at approximately $26,000. Legal & General Group Plc bought a new stake in shares of Lightbridge during the 2nd quarter valued at approximately $28,000. SBI Securities Co. Ltd. grew its holdings in shares of Lightbridge by 60.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 3,071 shares of the energy company's stock valued at $41,000 after purchasing an additional 1,152 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Lightbridge by 853.3% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 3,918 shares of the energy company's stock valued at $52,000 after purchasing an additional 3,507 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Lightbridge during the 2nd quarter valued at approximately $53,000. 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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