NEW YORK (TheStreet) -- Lightbridge (LTBR) was spiking 29% to $2.98 on Tuesday morning after the nuclear energy company announced that the United States Patent and Trademark Office had approved and issued a key patent for the company's multi-lobed metallic fuel rod design and fuel assemblies.
"This new patent is the single most important patent in Lightbridge's intellectual property portfolio and is crucial to the Company's future royalty revenue stream," said President and CEO Seth Grae in a statement. "We now have very broad protection for the metal fuel element that will be used in all of our fuel assembly designs. Moreover, this successful outcome secures patent protection in the U.S. -- the world's largest market of pressurized water reactors currently in operation."
Uranium oxide pellets in zirconium alloy tubes typically make up fuel rods, but Lightbridge's proprietary multi-lobed metallic fuel rods are a solid uranium-zirconium alloy that are thrust out in full-size lengths of 12 to 14 feet.
TheStreet Ratings team rates LIGHTBRIDGE CORP as a "sell" with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:
"We rate LIGHTBRIDGE CORP (LTBR) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, disappointing return on equity, poor profit margins and weak operating cash flow."