Lightbridge (NASDAQ:LTBR) Stock Price Down 9.6% – What’s Next?

Lightbridge Corporation (NASDAQ:LTBR)’s stock price dropped 9.6% on Thursday . The company traded as low as $15.50 and last traded at $15.42. Approximately 1,123,987 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 2,047,371 shares. The stock had previously closed at $17.05.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lightbridge in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Lightbridge has a consensus rating of “Sell”.

Lightbridge Trading Down 3.5%

The stock has a market capitalization of $453.84 million, a P/E ratio of -16.89 and a beta of 1.81. The stock’s 50 day simple moving average is $21.25 and its 200 day simple moving average is $16.32.

Lightbridge (NASDAQ:LTBR) last released its earnings results on Wednesday, November 5th. The energy company reported ($0.16) earnings per share for the quarter.

Insider Transactions at Lightbridge

In other Lightbridge news, EVP Andrey Mushakov sold 25,093 shares of the stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $25.06, for a total transaction of $628,830.58. Following the transaction, the executive vice president owned 395,699 shares of the company’s stock, valued at $9,916,216.94. This trade represents a 5.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sweta Chakraborty sold 1,948 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $26.73, for a total value of $52,070.04. Following the completion of the sale, the director owned 43,501 shares of the company’s stock, valued at $1,162,781.73. This trade represents a 4.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 107,845 shares of company stock worth $2,734,064. 6.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lightbridge

Several institutional investors and hedge funds have recently bought and sold shares of the business. Ameritas Investment Partners Inc. acquired a new position in Lightbridge in the second quarter valued at approximately $26,000. Legal & General Group Plc bought a new stake in shares of Lightbridge in the 2nd quarter worth approximately $28,000. Advisory Services Network LLC acquired a new position in Lightbridge during the 3rd quarter valued at approximately $50,000. Russell Investments Group Ltd. bought a new position in Lightbridge during the 3rd quarter worth $53,000. Finally, SBI Securities Co. Ltd. increased its position in Lightbridge by 60.0% in the second quarter. SBI Securities Co. Ltd. now owns 3,071 shares of the energy company’s stock worth $41,000 after buying an additional 1,152 shares during the period. Institutional investors and hedge funds 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.