Comstock Target of Unusually High Options Trading (NYSE:LODE)

Comstock Inc. (NYSE:LODE) was the target of some unusual options trading on Friday. Stock traders bought 20,096 call options on the company. This is an increase of 1,783% compared to the average daily volume of 1,067 call options.

Analysts Set New Price Targets

Several brokerages have recently commented on LODE. Noble Financial downgraded shares of Comstock from an “outperform” rating to a “market perform” rating in a report on Wednesday, December 18th. StockNews.com started coverage on shares of Comstock in a research report on Saturday, September 21st. They set a “sell” rating on the stock.

Comstock Stock Performance

Shares of NYSE LODE traded up $0.07 during mid-day trading on Friday, reaching $0.63. 26,508,752 shares of the company’s stock were exchanged, compared to its average volume of 3,394,180. The firm has a 50-day moving average price of $0.40 and a two-hundred day moving average price of $0.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.45 and a quick ratio of 2.45. The firm has a market capitalization of $138.10 million, a price-to-earnings ratio of -5.25 and a beta of 1.98. Comstock has a 52 week low of $0.13 and a 52 week high of $0.82.

Comstock (NYSE:LODE) last issued its earnings results on Tuesday, October 22nd. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). Comstock had a negative return on equity of 33.56% and a negative net margin of 1,210.13%. The firm had revenue of $0.56 million for the quarter, compared to analyst estimates of $0.69 million. Analysts predict that Comstock will post -0.22 EPS for the current year.

Institutional Trading of Comstock

Several hedge funds and other institutional investors have recently modified their holdings of LODE. XTX Topco Ltd bought a new position in Comstock in the 3rd quarter worth approximately $36,000. Farther Finance Advisors LLC grew its position in shares of Comstock by 19.3% in the second 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 in the last quarter. Renaissance Technologies LLC raised its stake in shares of Comstock by 137.9% during 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 period. Finally, Geode Capital Management LLC lifted its holdings in Comstock by 54.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,604,151 shares of the company’s stock worth $759,000 after purchasing an additional 568,721 shares in the last quarter. Institutional investors own 7.96% of the company’s stock.

Comstock Company Profile

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.