Lightbridge (NASDAQ:LTBR) Issues Earnings Results

by · The Markets Daily

Lightbridge (NASDAQ:LTBR – Get Free Report) issued its quarterly earnings data on Wednesday. The energy company reported ($0.16) earnings per share for the quarter, Zacks reports.

Lightbridge Stock Down 1.2%

LTBR traded down $0.21 during trading on Friday, reaching $17.78. The company’s stock had a trading volume of 1,698,700 shares, compared to its average volume of 2,078,848. The firm has a fifty day simple moving average of $20.53 and a two-hundred day simple moving average of $15.63. The company has a market cap of $460.82 million, a price-to-earnings ratio of -21.43 and a beta of 1.81. Lightbridge has a 1 year low of $4.37 and a 1 year high of $31.33.

Analyst Ratings Changes

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

Read Our Latest Analysis on Lightbridge

Insider Buying and Selling

In related news, Director Jesse L. Funches sold 1,448 shares of the stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $22.67, for a total transaction of $32,826.16. Following the transaction, the director owned 64,840 shares of the company’s stock, valued at approximately $1,469,922.80. This represents a 2.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Seth Grae sold 32,296 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $28.07, for a total value of $906,548.72. Following the transaction, the chief executive officer owned 753,316 shares of the company’s stock, valued at $21,145,580.12. This trade represents a 4.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 127,845 shares of company stock worth $3,037,064. 6.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lightbridge

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased 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 valued at $31,549,000 after acquiring an additional 237,378 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Lightbridge by 22.2% during the third quarter. JPMorgan Chase & Co. now owns 11,501 shares of the energy company’s stock worth $244,000 after purchasing an additional 2,091 shares during the period. FORA Capital LLC purchased a new position in Lightbridge in the 2nd quarter valued at $218,000. BNP Paribas Financial Markets acquired a new position in Lightbridge in the 2nd quarter valued at $2,484,000. Finally, Bank of America Corp DE lifted its stake in shares of Lightbridge by 184.3% in the 2nd quarter. Bank of America Corp DE now owns 12,867 shares of the energy company’s stock worth $172,000 after acquiring an additional 8,341 shares during the period. Hedge funds and other institutional investors own 9.14% of the company’s stock.

About Lightbridge

(Get Free Report)

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.

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