Lightbridge (NASDAQ:LTBR) Issues Earnings Results

Lightbridge (NASDAQ:LTBR) issued its earnings results on Monday. The energy company reported ($0.23) earnings per share (EPS) for the quarter, FiscalAI reports.

Lightbridge Stock Performance

LTBR opened at $5.08 on Monday. Lightbridge has a 1-year low of $4.87 and a 1-year high of $28.44. The company has a market capitalization of $190.30 million, a PE ratio of -6.43 and a beta of 1.71. The firm’s 50 day simple moving average is $6.51 and its two-hundred day simple moving average is $10.17.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Lightbridge in a research note on Thursday, October 15th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Insider Activity

In other news, Director Mark Tobin sold 15,000 shares of the company’s stock in a transaction 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 $599,354.31. This represents a 18.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 5.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lightbridge

Hedge funds have recently added to or reduced their stakes in the company. Apella Capital LLC bought a new stake in Lightbridge in the third quarter worth about $92,000. Integrated Wealth Concepts LLC bought a new position in shares of Lightbridge during the second quarter valued at approximately $31,000. Squarepoint Ops LLC bought a new position in shares of Lightbridge during the second quarter valued at approximately $156,000. Benjamin Edwards Inc. purchased a new stake in shares of Lightbridge in the second quarter worth approximately $292,000. Finally, Wellington Management Group LLP raised its holdings in shares of Lightbridge by 13.1% in the second quarter. Wellington Management Group LLP now owns 15,462 shares of the energy company’s stock worth $136,000 after buying an additional 1,794 shares during the period. 9.14% of the stock is currently owned by institutional investors.

About Lightbridge

Lightbridge Corporation is a nuclear technology company focused on developing advanced nuclear fuel designs for commercial nuclear reactors. Its primary technology is a proprietary metallic fuel intended for use in existing light-water reactors and certain advanced reactor concepts.

The company’s fuel technology is designed to support higher reactor power output, improved fuel performance and enhanced safety characteristics compared with conventional nuclear fuel designs. Lightbridge is also developing fuel rod and fuel assembly concepts and has worked with research and government organizations, including Idaho National Laboratory, to advance testing and commercialization efforts.

Founded in 1992 as Thorium Power, the company adopted the Lightbridge name in 2010.