Lightbridge (NASDAQ:LTBR) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

Lightbridge Corporation (NASDAQ:LTBR) shares passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $9.21 and traded as low as $4.87. Lightbridge shares last traded at $5.35, with a volume of 1,038,608 shares trading hands.

Wall Street Analyst Weigh In

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

Lightbridge Stock Down 2.6%

The company has a market cap of $195.17 million, a P/E ratio of -6.59 and a beta of 2.08. The stock has a 50 day moving average price of $7.13 and a two-hundred day moving average price of $9.19.

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

Insiders Place Their Bets

In other news, Director Mark Tobin sold 15,000 shares of Lightbridge stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $8.99, for a total transaction of $134,850.00. Following the completion of the sale, the director owned 66,669 shares of the company’s stock, valued at approximately $599,354.31. This trade represents a 18.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Lightbridge

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Lightbridge in the second quarter valued at about $22,580,000. Tortoise Investment Management LLC bought a new position in Lightbridge during the second quarter worth about $1,898,000. Renaissance Technologies LLC raised its stake in Lightbridge by 21.4% in the 1st quarter. Renaissance Technologies LLC now owns 653,900 shares of the energy company’s stock worth $6,971,000 after purchasing an additional 115,395 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Lightbridge in the 2nd quarter worth about $752,000. Finally, Tempo Wealth LLC bought a new stake in Lightbridge in the 4th quarter valued at about $800,000. Institutional investors own 9.14% of the company’s stock.

About Lightbridge

Lightbridge Corporation is a nuclear fuel technology company focused on developing advanced fuel designs for commercial nuclear reactors. Its primary technology is a metallic nuclear fuel intended to improve reactor performance, safety characteristics and operating economics compared with conventional fuel designs.

The company’s fuel technology is being developed for potential use in both existing light-water reactors and next-generation reactors. Lightbridge has also explored fuel designs incorporating thorium and uranium, although its current development efforts center on metallic fuel assemblies and related materials and manufacturing technologies.

Lightbridge was previously known as Thorium Power and adopted the Lightbridge name as it expanded its focus on advanced nuclear fuel technologies.