Lightbridge (NASDAQ:LTBR) Shares Down 10.4% – Here’s What Happened

Lightbridge Corporation (NASDAQ:LTBR) shares traded down 10.4% during trading on Thursday . The company traded as low as $17.99 and last traded at $18.0730. 661,001 shares changed hands during trading, a decline of 68% from the average session volume of 2,063,201 shares. The stock had previously closed at $20.16.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lightbridge in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Lightbridge Trading Down 10.6%

The business has a 50-day moving average price of $20.92 and a 200 day moving average price of $16.01. The stock has a market cap of $583.29 million, a PE ratio of -21.87 and a beta of 1.81.

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

Insider Buying and Selling at Lightbridge

In other Lightbridge news, CEO Seth Grae sold 32,296 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $28.07, for a total transaction of $906,548.72. Following the sale, the chief executive officer owned 753,316 shares of the company’s stock, valued at $21,145,580.12. The trade was a 4.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jesse L. Funches sold 1,448 shares of the stock in a transaction 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 in the company, valued at approximately $1,469,922.80. This represents a 2.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 127,845 shares of company stock valued at $3,037,064. 5.80% of the stock is owned by corporate insiders.

Institutional Trading of Lightbridge

Institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new stake in shares of Lightbridge during the third quarter valued at about $53,000. Close Asset Management Ltd purchased a new position in Lightbridge in the third quarter worth $89,000. Vanguard Group Inc. boosted its holdings in shares of Lightbridge by 19.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,487,461 shares of the energy company’s stock worth $31,549,000 after purchasing an additional 237,378 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Lightbridge by 22.2% in the third quarter. JPMorgan Chase & Co. now owns 11,501 shares of the energy company’s stock worth $244,000 after buying an additional 2,091 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Lightbridge by 4.9% in the third quarter. Rhumbline Advisers now owns 28,241 shares of the energy company’s stock worth $599,000 after purchasing an additional 1,325 shares during the last quarter. 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.