Shares of Lightbridge (NASDAQ: LTBR) experienced a sharp sell-off yesterday, closing down 10.5% at $18.66. The decline coincided with reports of insider selling activity and a significant drop in trading volume.
Investor sentiment was impacted by a substantial transaction from a company executive. Andrey Mushakov, the firm’s Executive Vice President, disposed of 17,598 shares on Monday at an average price of $20.04. This transaction, valued at over $352,000, reduced his direct holdings by 4.26%.
Trading activity also presented a concerning picture. Volume plummeted by 75% compared to its average, with a mere 507,479 shares changing hands by midday. A price drop on such thin volume is often viewed by market participants as an indicator of heightened near-term risk.
Should investors sell immediately? Or is it worth buying Lightbridge?
The stock’s recent volatility was notable. During Wednesday’s session, it swung in a wide 15% range, touching a low of $18.51 after reaching a high of $21.27. This erased a significant portion of the previous day’s 3.47% gain. While the stock had recently shown bullish technical signals, its Relative Strength Index (RSI) reading of 81 on the prior day indicated extreme overbought conditions, helping to explain the current corrective pullback. The share price has now fallen below a key technical support level that was previously holding at $20.15.
All eyes are now on the company’s upcoming quarterly results, scheduled for release on October 30, for signs of a potential recovery.
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