Lightbridge (NASDAQ:LTBR) Stock Price Breaks Below 200 Day Moving Average - Here's Why

Key Points

• Lightbridge shares fell below their 200-day moving average of $9.64, trading as low as $6.22 and last changing hands at $6.30 on volume of 795,814 shares.
• Weiss Ratings reiterated a “sell (D-)” rating, and the stock’s sole covering analyst maintains a Sell rating. Lightbridge also reported a quarterly loss of $0.18 per share.
• Director Mark Tobin sold 15,000 shares worth $134,850, reducing his position by 18.37%, while institutional investors and hedge funds own 9.14% of the company.

Lightbridge Corporation (NASDAQ:LTBR - Get Free Report)'s share price passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $9.64 and traded as low as $6.22. Lightbridge shares last traded at $6.30, with a volume of 795,814 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Lightbridge in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of "Sell".

Lightbridge Stock Down 2.8%

The company has a market capitalization of $236.00 million, a price-to-earnings ratio of -7.97 and a beta of 2.13. The stock has a fifty day moving average price of $7.76 and a two-hundred day moving average price of $9.64.

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

Insider Transactions at Lightbridge

In other Lightbridge news, Director Mark Tobin sold 15,000 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $8.99, for a total value of $134,850.00. Following the transaction, the director directly owned 66,669 shares in the company, valued at approximately $599,354.31. This represents a 18.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.40% of the company's stock.

Hedge Funds Weigh In On Lightbridge

A number of institutional investors have recently modified their holdings of LTBR. BlackRock Inc. acquired a new stake in Lightbridge during the second quarter worth approximately $22,580,000. Renaissance Technologies LLC grew its stake in Lightbridge by 21.4% in the 1st quarter. Renaissance Technologies LLC now owns 653,900 shares of the energy company's stock worth $6,971,000 after acquiring an additional 115,395 shares during the period. Tortoise Investment Management LLC purchased a new stake in Lightbridge in the 2nd quarter worth approximately $1,898,000. Pacer Advisors Inc. boosted its holdings in shares of Lightbridge by 17.8% during the first quarter. Pacer Advisors Inc. now owns 164,452 shares of the energy company's stock worth $1,753,000 after purchasing an additional 24,863 shares during the last quarter. Finally, Tempo Wealth LLC acquired a new stake in shares of Lightbridge during the fourth quarter worth $800,000. Institutional investors and hedge funds own 9.14% of the company's stock.

Lightbridge Company Profile

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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