Lightbridge (NASDAQ:LTBR) Shares Cross Below 200 Day Moving Average - What's Next?

Key Points

• Lightbridge shares fell below their 200-day moving average of $9.87, trading as low as $6.68 before closing at $6.79 on volume of 755,301 shares.
• The company carries a consensus “Sell” rating, including a reaffirmed Weiss Ratings “sell (D-)” assessment. Lightbridge also reported a quarterly loss of $0.18 per share.
• Institutional ownership increased as BlackRock established a roughly $22.6 million position and other funds added shares, while director Mark Tobin sold 15,000 shares at an average price of $8.99.

Lightbridge Corporation (NASDAQ:LTBR - Get Free Report)'s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.87 and traded as low as $6.68. Lightbridge shares last traded at $6.79, with a volume of 755,301 shares changing hands.

Analyst Ratings Changes

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, Based on data from MarketBeat.com, the company presently has a consensus rating of "Sell".

Lightbridge Stock Up 4.1%

The stock has a market cap of $254.35 million, a PE ratio of -8.59 and a beta of 2.13. The company's fifty day moving average is $7.87 and its 200 day moving average is $9.87.

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

Insider Activity at Lightbridge

In related news, Director Mark Tobin sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $8.99, for a total transaction of $134,850.00. Following the transaction, the director directly owned 66,669 shares of the company's stock, valued at approximately $599,354.31. The trade was a 18.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.40% of the company's stock.

Hedge Funds Weigh In On Lightbridge

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Lightbridge in the second quarter worth about $22,580,000. Renaissance Technologies LLC raised its position in shares of Lightbridge by 21.4% in the 1st quarter. Renaissance Technologies LLC now owns 653,900 shares of the energy company's stock valued at $6,971,000 after purchasing an additional 115,395 shares in the last quarter. Tortoise Investment Management LLC purchased a new position in shares of Lightbridge during the 2nd quarter valued at approximately $1,898,000. Pacer Advisors Inc. boosted its stake in shares of Lightbridge by 17.8% during the 1st quarter. Pacer Advisors Inc. now owns 164,452 shares of the energy company's stock valued at $1,753,000 after buying an additional 24,863 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Lightbridge during the second quarter worth approximately $752,000. Institutional investors and hedge funds own 9.14% of the company's stock.

About Lightbridge

Lightbridge Corporation NASDAQ: LTBR is a nuclear technology company developing advanced nuclear fuel designs for commercial nuclear reactors. Its primary focus is metallic fuel technology intended to improve reactor performance, safety characteristics and operating efficiency compared with conventional nuclear fuel.

Lightbridge is developing fuel assemblies and related fuel technologies for both existing light-water reactors and potential next-generation reactor designs. The company's work includes fuel-rod and fuel-assembly concepts designed to support higher power output and improved accident tolerance, with the goal of enabling deployment through partnerships with reactor operators, fuel manufacturers and government research organizations.

Founded as Thorium Power, the company adopted the Lightbridge name in 2010 as it focused on advanced nuclear fuel development.

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