StockNews.com Begins Coverage on Comstock (NYSE:LODE)

StockNews.com initiated coverage on shares of Comstock (NYSE:LODE) in a report published on Monday. The brokerage issued a sell rating on the stock.

Comstock Trading Down 2.9 %

Shares of Comstock stock opened at $0.17 on Monday. The firm has a market capitalization of $24.16 million, a PE ratio of 2.19 and a beta of 1.93. Comstock has a twelve month low of $0.17 and a twelve month high of $0.94. The firm’s 50-day moving average price is $0.26 and its 200 day moving average price is $0.38. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.11.

Comstock (NYSE:LODE) last issued its quarterly earnings results on Monday, April 29th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The company had revenue of $0.43 million during the quarter, compared to analysts’ expectations of $0.54 million. Comstock had a net margin of 474.79% and a negative return on equity of 5.56%. On average, sell-side analysts predict that Comstock will post -0.16 EPS for the current fiscal year.

Insider Buying and Selling at Comstock

In other news, CEO Corrado Degasperis purchased 1,250,000 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was acquired at an average price of $0.40 per share, for a total transaction of $500,000.00. Following the acquisition, the chief executive officer now directly owns 1,358,180 shares of the company’s stock, valued at $543,272. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders acquired 1,340,000 shares of company stock worth $523,900. Insiders own 8.50% of the company’s stock.

Institutional Trading of Comstock

A hedge fund recently bought a new stake in Comstock stock. Mission Wealth Management LP purchased a new stake in Comstock Inc. (NYSE:LODE) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 85,366 shares of the company’s stock, valued at approximately $47,000. Mission Wealth Management LP owned 0.07% of Comstock as of its most recent SEC filing. Institutional investors and hedge funds own 7.96% of the company’s stock.

About Comstock

Comstock Inc engages in the systemic decarbonization business in Nevada and internationally. It operates through Renewable Energy, Mining, and Strategic and Other Investments segments. It will develop technology for the deploying of extraction and refining facilities that convert wasted and unused biomass and other natural resources; and a demonstration system to extract black mass containing lithium, graphite, nickel, cobalt, manganese, copper, aluminum, and other metals from up to lithium-ion batteries.