About 2.3 million shares of Lightbridge were traded by 12:55 p.m. Friday, well above the company's average trading volume of about 47,000 shares a day.
Lightbridge shares jumped Thursday afternoon after the company announced it was granted a key patent for metallic nuclear fuel design in South Korea. The patent covers the company's multi-lobed metallic fuel rod design and fuel assemblies.
"The South Korean patent is another important milestone in the development of our fuel assembly designs for existing and new build pressurized water reactors," President and CEO Seth Grae said in a statement about the patent.
Grae continued, "Korea represents a significant potential market for Lightbridge metallic fuel with 24 operating pressurized water reactors and an additional 12 reactors either under construction or planned by 2035, according to the most current data compiled by the World Nuclear Association."
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 multiple weaknesses, 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 weak operating cash flow and generally disappointing historical performance in the stock itself."