Lightbridge (NASDAQ:LTBR) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

Lightbridge Corporation (NASDAQ:LTBR) shares passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $9.64 and traded as low as $6.22. Lightbridge shares last traded at $6.30, with a volume of 795,814 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lightbridge in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Lightbridge has an average rating of “Sell”.

Lightbridge Stock Down 0.2%

The company’s 50-day simple moving average is $7.72 and its 200 day simple moving average is $9.60. The stock has a market capitalization of $235.24 million, a price-to-earnings ratio of -7.95 and a beta of 2.13.

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

Insiders Place Their Bets

In related news, Director Mark Tobin sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $8.99, for a total value of $134,850.00. Following the completion of the sale, the director directly owned 66,669 shares in the company, valued at approximately $599,354.31. The trade was a 18.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Lightbridge

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Lightbridge during the 2nd quarter worth $22,580,000. Renaissance Technologies LLC raised its holdings 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 acquiring an additional 115,395 shares during the period. Tortoise Investment Management LLC acquired a new position in Lightbridge during the 2nd quarter worth $1,898,000. Pacer Advisors Inc. lifted its position in Lightbridge by 17.8% during the 1st quarter. Pacer Advisors Inc. now owns 164,452 shares of the energy company’s stock worth $1,753,000 after acquiring an additional 24,863 shares during the last quarter. Finally, Tempo Wealth LLC bought a new stake in Lightbridge during the fourth quarter valued at about $800,000. Institutional investors own 9.14% of the company’s stock.

About Lightbridge

Lightbridge Corporation (NASDAQ:LTBR) is a nuclear technology company developing advanced nuclear fuel designs for commercial nuclear reactors. Its primary focus is metallic fuel technology intended to improve reactor performance, safety characteristics and operating efficiency compared with conventional nuclear fuel.

Lightbridge is developing fuel assemblies and related fuel technologies for both existing light-water reactors and potential next-generation reactor designs. The company’s work includes fuel-rod and fuel-assembly concepts designed to support higher power output and improved accident tolerance, with the goal of enabling deployment through partnerships with reactor operators, fuel manufacturers and government research organizations.

Founded as Thorium Power, the company adopted the Lightbridge name in 2010 as it focused on advanced nuclear fuel development.