Lightbridge (NASDAQ:LTBR) Trading Down 10.4% – What’s Next?

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

Wall Street Analysts Forecast Growth

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

Lightbridge Stock Down 0.6%

The firm’s fifty day simple moving average is $21.07 and its 200-day simple moving average is $16.09. The firm has a market capitalization of $578.15 million, a PE ratio of -21.52 and a beta of 1.81.

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

Insiders Place Their Bets

In related news, Director Jesse L. Funches sold 1,448 shares of Lightbridge stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $22.67, for a total value of $32,826.16. Following the completion of the sale, the director directly owned 64,840 shares in the company, valued at approximately $1,469,922.80. This trade represents a 2.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Seth Grae sold 32,296 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $28.07, for a total transaction of $906,548.72. Following the transaction, the chief executive officer owned 753,316 shares in the company, valued at $21,145,580.12. This represents a 4.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 107,845 shares of company stock worth $2,734,064 over the last three months. Company insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. boosted its holdings in Lightbridge by 226.5% in the third quarter. Raymond James Financial Inc. now owns 12,842 shares of the energy company’s stock worth $272,000 after purchasing an additional 8,909 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Lightbridge during the 3rd quarter valued at $1,065,000. Two Sigma Investments LP boosted its stake in shares of Lightbridge by 93.1% in the 3rd quarter. Two Sigma Investments LP now owns 592,030 shares of the energy company’s stock worth $12,557,000 after buying an additional 285,471 shares during the last quarter. UBS Group AG grew its holdings in shares of Lightbridge by 62.4% in the third quarter. UBS Group AG now owns 579,011 shares of the energy company’s stock worth $12,281,000 after acquiring an additional 222,402 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in shares of Lightbridge by 168.2% in the third quarter. BNP Paribas Financial Markets now owns 498,415 shares of the energy company’s stock worth $10,571,000 after acquiring an additional 312,605 shares during the period. Institutional investors own 9.14% of the company’s stock.

About Lightbridge

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.