Lightbridge (NASDAQ:LTBR) Shares Up 7.9% – Here’s What Happened

Lightbridge Corporation (NASDAQ:LTBR) shot up 7.9% on Friday . The stock traded as high as $25.63 and last traded at $25.71. 926,707 shares traded hands during trading, a decline of 55% from the average session volume of 2,053,871 shares. The stock had previously closed at $23.82.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lightbridge in a report on Wednesday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Lightbridge Stock Down 7.3%

The stock has a market capitalization of $572.31 million, a P/E ratio of -26.60 and a beta of 1.93. The business’s 50 day simple moving average is $16.91 and its two-hundred day simple moving average is $13.37.

Lightbridge (NASDAQ:LTBR) last released its quarterly earnings data on Monday, August 11th. The energy company reported ($0.16) earnings per share for the quarter.

Insider Buying and Selling at Lightbridge

In other Lightbridge news, EVP Andrey Mushakov sold 25,093 shares of the firm’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $25.06, for a total value of $628,830.58. Following the transaction, the executive vice president directly owned 395,699 shares of the company’s stock, valued at approximately $9,916,216.94. This trade represents a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Seth Grae sold 7,616 shares of the firm’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $25.84, for a total transaction of $196,797.44. Following the completion of the transaction, the chief executive officer directly owned 753,316 shares in the company, valued at $19,465,685.44. This trade represents a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,001 shares of company stock valued at $1,542,639 over the last ninety days. 6.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Lightbridge

Several institutional investors and hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. raised its holdings in shares of Lightbridge by 60.0% in the second quarter. SBI Securities Co. Ltd. now owns 3,071 shares of the energy company’s stock valued at $41,000 after purchasing an additional 1,152 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Lightbridge in the second quarter valued at about $26,000. Legal & General Group Plc purchased a new stake in shares of Lightbridge in the second quarter valued at about $28,000. Bank of Montreal Can raised its holdings in shares of Lightbridge by 30.0% in the second quarter. Bank of Montreal Can now owns 13,000 shares of the energy company’s stock valued at $174,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Lightbridge by 853.3% in the second quarter. Caitong International Asset Management Co. Ltd now owns 3,918 shares of the energy company’s stock valued at $52,000 after purchasing an additional 3,507 shares during the last quarter. Hedge funds and other 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.