BlackRock Inc. Buys New Shares in Lightbridge Corporation $LTBR

BlackRock Inc. bought a new stake in shares of Lightbridge Corporation (NASDAQ:LTBR) during the second quarter, Holdings Channel reports. The institutional investor bought 2,568,869 shares of the energy company’s stock, valued at approximately $22,580,000. BlackRock Inc. owned about 0.07% of Lightbridge as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Federated Hermes Inc. increased its stake in Lightbridge by 266.6% in the fourth quarter. Federated Hermes Inc. now owns 2,086 shares of the energy company’s stock valued at $26,000 after purchasing an additional 1,517 shares in the last quarter. CrossGen Wealth LLC acquired a new position in shares of Lightbridge during the fourth quarter valued at about $26,000. Legal & General Group Plc bought a new position in shares of Lightbridge during the 2nd quarter worth about $28,000. Advisory Services Network LLC bought a new position in shares of Lightbridge during the 3rd quarter worth about $50,000. Finally, Leonteq Securities AG acquired a new stake in shares of Lightbridge in the 4th quarter valued at about $51,000. 9.14% of the stock is owned by institutional investors.

Lightbridge Stock Up 1.9%

Shares of NASDAQ:LTBR opened at $7.57 on Thursday. Lightbridge Corporation has a twelve month low of $6.92 and a twelve month high of $31.33. The stock’s 50 day moving average is $8.26 and its 200-day moving average is $10.42. The firm has a market capitalization of $283.57 million, a price-to-earnings ratio of -9.58 and a beta of 2.13.

Lightbridge (NASDAQ:LTBR) last posted its quarterly earnings results on Wednesday, August 5th. The energy company reported ($0.18) earnings per share (EPS) for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lightbridge in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Lightbridge currently has a consensus rating of “Sell”.

Insider Activity at Lightbridge

In related news, Director Mark Robert 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 sale, the director owned 66,669 shares in the company, valued at $599,354.31. This represents a 18.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.40% of the stock is currently owned by insiders.

About Lightbridge

Lightbridge Corporation is a nuclear energy technology company focused on developing advanced nuclear fuel designs to enhance the safety, efficiency and economic performance of existing and new nuclear power reactors. The company’s core technology centers on a patented metallic fuel system that replaces conventional uranium oxide fuel pellets with a uranium-zirconium alloy, configured in a helical rod design. This proprietary fuel form is intended to enable higher burnup rates, reduced fuel cycle costs and improved thermal conductivity, thereby addressing key challenges in the global nuclear industry.

Since its inception, Lightbridge has conducted extensive research and development in collaboration with national laboratories, regulatory agencies and reactor operators.