Comstock (NYSE:LODE) Research Coverage Started at StockNews.com

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

Separately, Noble Financial upgraded shares of Comstock from a market perform rating to an outperform rating and set a $2.60 target price on the stock in a research note on Monday, August 12th.

Comstock Stock Down 7.5 %

Shares of NYSE:LODE opened at $0.29 on Friday. The company has a market capitalization of $40.73 million, a price-to-earnings ratio of 3.71 and a beta of 1.91. The company has a 50 day moving average of $0.19 and a two-hundred day moving average of $0.25. Comstock has a 52-week low of $0.13 and a 52-week high of $0.63. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.11.

Comstock (NYSE:LODE) last announced its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Comstock had a negative return on equity of 8.67% and a net margin of 230.15%. The business had revenue of $0.43 million for the quarter, compared to analysts’ expectations of $0.57 million. As a group, analysts forecast that Comstock will post -0.17 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Leo M. Drozdoff acquired 200,000 shares of Comstock stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average cost of $0.15 per share, for a total transaction of $30,000.00. Following the completion of the purchase, the director now directly owns 600,000 shares of the company’s stock, valued at approximately $90,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.50% of the company’s stock.

Institutional Trading of Comstock

A hedge fund recently raised its stake in Comstock stock. Farther Finance Advisors LLC lifted its holdings in shares of Comstock Inc. (NYSE:LODE) by 19.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,356,958 shares of the company’s stock after buying an additional 219,622 shares during the period. Farther Finance Advisors LLC owned 0.98% of Comstock worth $223,000 at the end of the most recent reporting period. 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.