Balboa Wealth Partners Acquires New Holdings in Lightbridge Corporation $LTBR

Balboa Wealth Partners bought a new position in Lightbridge Corporation (NASDAQ:LTBR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 11,903 shares of the energy company’s stock, valued at approximately $159,000. Balboa Wealth Partners owned about 0.05% of Lightbridge as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC bought a new position in shares of Lightbridge in the second quarter valued at approximately $7,856,000. Tortoise Investment Management LLC boosted its holdings in shares of Lightbridge by 132.6% during the 1st quarter. Tortoise Investment Management LLC now owns 163,521 shares of the energy company’s stock worth $1,220,000 after buying an additional 93,225 shares during the period. Goldman Sachs Group Inc. grew its stake in Lightbridge by 601.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 91,620 shares of the energy company’s stock valued at $683,000 after buying an additional 78,561 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in Lightbridge in the 1st quarter worth $471,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in Lightbridge during the 1st quarter worth $159,000. Institutional investors own 9.14% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity at Lightbridge

In other Lightbridge news, EVP Andrey Mushakov sold 25,093 shares of the firm’s stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $25.06, for a total value of $628,830.58. Following the completion of the sale, the executive vice president owned 395,699 shares in the company, valued at approximately $9,916,216.94. This trade represents a 5.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jesse L. Funches sold 1,448 shares of Lightbridge stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $22.67, for a total value of $32,826.16. Following the sale, the director directly owned 64,840 shares in the company, valued at $1,469,922.80. The trade was a 2.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 125,897 shares of company stock worth $2,984,994 in the last three months. Corporate insiders own 5.80% of the company’s stock.

Lightbridge Trading Down 10.8%

Shares of LTBR stock opened at $23.27 on Wednesday. The firm has a market capitalization of $603.04 million, a P/E ratio of -28.04 and a beta of 1.93. Lightbridge Corporation has a 1 year low of $4.37 and a 1 year high of $31.33. The firm’s fifty day simple moving average is $18.47 and its 200 day simple moving average is $14.25.

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

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.