Lightbridge (NASDAQ:LTBR) Share Price Crosses Below 200-Day Moving Average - Here's What Happened

Key Points

• Lightbridge shares fell below their 200-day moving average of $9.43, reaching $6.32 before closing at $6.42 on volume of 752,607 shares.
• Analyst sentiment remains negative: Weiss Ratings reiterated a “sell (D-)” rating, and MarketBeat reported a consensus “Sell” rating.
• The company reported a quarterly loss of $0.18 per share; additionally, director Mark Tobin sold 15,000 shares for $134,850, reducing his ownership by 18.37%.

Lightbridge Corporation (NASDAQ:LTBR - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $9.43 and traded as low as $6.32. Lightbridge shares last traded at $6.42, with a volume of 752,607 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Lightbridge in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of "Sell".

Lightbridge Stock Performance

The firm has a market capitalization of $240.49 million, a P/E ratio of -8.13 and a beta of 2.08. The firm's 50-day moving average is $7.58 and its 200 day moving average is $9.43.

Lightbridge (NASDAQ:LTBR - Get Free Report) last released its earnings results on Wednesday, August 5th. The energy company reported ($0.18) earnings per share (EPS) for the quarter.

Insider Buying and Selling at Lightbridge

In related news, Director Mark Tobin sold 15,000 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $8.99, for a total transaction of $134,850.00. Following the completion of the transaction, the director directly owned 66,669 shares in the company, valued at approximately $599,354.31. This trade represents a 18.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lightbridge

Several institutional investors have recently bought and sold shares of LTBR. Wellington Management Group LLP lifted its position in Lightbridge by 13.1% during the 2nd quarter. Wellington Management Group LLP now owns 15,462 shares of the energy company's stock worth $136,000 after buying an additional 1,794 shares in the last quarter. Chicago Partners Investment Group LLC raised its holdings in Lightbridge by 16.0% during the first quarter. Chicago Partners Investment Group LLC now owns 16,124 shares of the energy company's stock worth $172,000 after acquiring an additional 2,219 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Lightbridge by 5.0% during the 1st quarter. Bank of New York Mellon Corp now owns 63,790 shares of the energy company's stock worth $680,000 after purchasing an additional 3,062 shares in the last quarter. Legal & General Group Plc bought a new stake in Lightbridge during the second quarter worth $29,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in Lightbridge in the 2nd quarter valued at about $31,000. Institutional investors own 9.14% of the company's stock.

Lightbridge Company Profile

Lightbridge Corporation is a nuclear fuel technology company focused on developing advanced fuel designs for commercial nuclear reactors. Its primary technology is a metallic nuclear fuel intended to improve reactor performance, safety characteristics and operating economics compared with conventional fuel designs.

The company's fuel technology is being developed for potential use in both existing light-water reactors and next-generation reactors. Lightbridge has also explored fuel designs incorporating thorium and uranium, although its current development efforts center on metallic fuel assemblies and related materials and manufacturing technologies.

Lightbridge was previously known as Thorium Power and adopted the Lightbridge name as it expanded its focus on advanced nuclear fuel technologies.

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