Lightbridge (NASDAQ:LTBR) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Lightbridge Corporation (NASDAQ:LTBR) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $16.85 and traded as low as $14.44. Lightbridge shares last traded at $14.49, with a volume of 1,124,474 shares changing hands.

Wall Street Analysts Forecast Growth

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, According to MarketBeat, the company presently has an average rating of “Sell”.

Lightbridge Stock Down 6.2%

The stock has a market cap of $472.52 million, a price-to-earnings ratio of -18.11 and a beta of 1.86. The company has a 50 day simple moving average of $20.20 and a 200-day simple moving average of $16.85.

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

Insider Buying and Selling

In related news, CEO Seth Grae sold 32,296 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $28.07, for a total transaction of $906,548.72. Following the completion of the transaction, the chief executive officer directly owned 753,316 shares in the company, valued at $21,145,580.12. This represents a 4.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jesse L. Funches sold 1,448 shares of Lightbridge stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $22.67, for a total transaction of $32,826.16. Following the completion of 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 109,793 shares of company stock worth $2,764,199. 5.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. acquired a new position in Lightbridge during the second quarter worth about $26,000. Legal & General Group Plc bought a new position in shares of Lightbridge during the 2nd quarter valued at about $28,000. SBI Securities Co. Ltd. boosted its position in shares of Lightbridge by 60.0% during the 2nd 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 in the last quarter. Advisory Services Network LLC acquired a new position in shares of Lightbridge in the 3rd quarter worth approximately $50,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Lightbridge by 853.3% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 3,918 shares of the energy company’s stock worth $52,000 after purchasing an additional 3,507 shares in the last quarter. Institutional investors and hedge funds 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.