Lightbridge (NASDAQ:LTBR) Trading Up 7.9% - Here's What Happened

Key Points

• Lightbridge Corporation's stock price surged by 7.9% during trading, reaching a high of $25.63 and closing at $25.71, despite a significant drop in trading volume compared to average levels.
• Weiss Ratings maintained a "sell (d-)" rating on Lightbridge stocks, which has resulted in a consensus rating of "Sell" from analysts.
• Insiders sold a total of 40,292 shares valued at $717,011 over the last quarter, indicating a potential lack of confidence from executives in the company's stock performance.

Lightbridge Corporation (NASDAQ:LTBR - Get Free Report)'s stock price was up 7.9% during trading on Friday . The company traded as high as $25.63 and last traded at $25.71. Approximately 926,707 shares traded hands during trading, a decline of 55% from the average daily volume of 2,053,871 shares. The stock had previously closed at $23.82.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Lightbridge in a report on Wednesday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Lightbridge currently has a consensus rating of "Sell".

Lightbridge Price Performance

The stock has a market capitalization of $636.86 million, a price-to-earnings ratio of -29.49 and a beta of 1.93. The business has a fifty day moving average of $16.73 and a 200 day moving average of $13.24.

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

Insider Buying and Selling at Lightbridge

In other Lightbridge news, Director Jesse L. Funches sold 1,448 shares of the business's stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $22.67, for a total value of $32,826.16. Following the sale, the director owned 64,840 shares of the company's stock, valued at $1,469,922.80. The trade was a 2.18% 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, Director Sweta Chakraborty sold 1,246 shares of the business's stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $22.89, for a total value of $28,520.94. Following the completion of the sale, the director directly owned 45,449 shares in the company, valued at approximately $1,040,327.61. The trade was a 2.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,292 shares of company stock valued at $717,011 over the last quarter. 6.50% of the stock is owned by company insiders.

Institutional Trading of Lightbridge

Large investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC purchased a new stake in shares of Lightbridge during the second quarter worth $7,856,000. Geneos Wealth Management Inc. purchased a new stake in shares of Lightbridge during the first quarter worth $471,000. Goldman Sachs Group Inc. increased its position in shares of Lightbridge by 601.6% during the first quarter. Goldman Sachs Group Inc. now owns 91,620 shares of the energy company's stock worth $683,000 after acquiring an additional 78,561 shares during the period. Rathbones Group PLC purchased a new stake in shares of Lightbridge during the first quarter worth $139,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in Lightbridge in the first quarter valued at $159,000. Hedge funds and other institutional investors own 9.14% of the company's stock.

Lightbridge Company Profile

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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