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

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

Comstock Stock Down 6.8 %

LODE opened at $0.14 on Monday. Comstock has a fifty-two week low of $0.13 and a fifty-two week high of $0.63. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.49 and a current ratio of 1.49. The company has a fifty day moving average of $0.17 and a two-hundred day moving average of $0.29. The stock has a market capitalization of $19.70 million, a price-to-earnings ratio of 1.78 and a beta of 1.92.

Comstock (NYSE:LODE) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Comstock had a net margin of 474.79% and a negative return on equity of 5.56%. The firm had revenue of $0.43 million during the quarter, compared to analysts’ expectations of $0.57 million. On average, research analysts expect that Comstock will post -0.16 earnings per share for the current year.

Insider Activity

In related news, CEO Corrado Degasperis bought 1,250,000 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were acquired at an average price of $0.40 per share, for a total transaction of $500,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,358,180 shares in the company, valued at $543,272. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Comstock news, CEO Corrado Degasperis purchased 1,250,000 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were purchased at an average cost of $0.40 per share, for a total transaction of $500,000.00. Following the completion of the transaction, the chief executive officer now owns 1,358,180 shares of the company’s stock, valued at approximately $543,272. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leo M. Drozdoff purchased 200,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were acquired at an average price of $0.15 per share, for a total transaction of $30,000.00. Following the completion of the transaction, the director now directly owns 600,000 shares of the company’s stock, valued at approximately $90,000. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,500,000 shares of company stock worth $543,500 over the last 90 days. 8.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Comstock

Institutional investors and hedge funds have recently bought and sold shares of the company. Mission Wealth Management LP acquired a new position in Comstock in the 4th quarter valued at about $47,000. Farther Finance Advisors LLC boosted its holdings in Comstock by 19.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,356,958 shares of the company’s stock valued at $223,000 after purchasing an additional 219,622 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Comstock by 137.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,868,334 shares of the company’s stock valued at $470,000 after purchasing an additional 1,662,524 shares during the last quarter. 7.96% of the stock is currently owned by institutional investors and hedge funds.

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.