Comstock (NYSE:LODE) Trading Down 2.6% – Here’s What Happened

Comstock Inc. (NYSE:LODE)’s share price was down 2.6% during trading on Wednesday . The company traded as low as $2.27 and last traded at $2.29. Approximately 218,786 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 533,408 shares. The stock had previously closed at $2.35.

Analyst Upgrades and Downgrades

LODE has been the subject of several recent analyst reports. Noble Financial downgraded Comstock from an “outperform” rating to a “market perform” rating in a report on Wednesday, December 18th. StockNews.com raised shares of Comstock to a “sell” rating in a research report on Wednesday, March 12th.

Comstock Trading Down 10.0 %

The stock has a 50-day simple moving average of $2.93 and a 200 day simple moving average of $3.83. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.16. The company has a market cap of $50.85 million, a price-to-earnings ratio of -15.75 and a beta of 1.59.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. XTX Topco Ltd acquired a new stake in shares of Comstock during the 3rd quarter worth approximately $36,000. Geode Capital Management LLC grew its position in Comstock by 54.9% during the third quarter. Geode Capital Management LLC now owns 1,604,151 shares of the company’s stock valued at $759,000 after buying an additional 568,721 shares during the period. CGN Advisors LLC purchased a new position in Comstock in the fourth quarter valued at $31,000. Kingswood Wealth Advisors LLC raised its position in shares of Comstock by 1,250.0% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 270,000 shares of the company’s stock worth $216,000 after acquiring an additional 250,000 shares during the period. Finally, Quadrant Private Wealth Management LLC boosted its stake in shares of Comstock by 45.0% during the 4th quarter. Quadrant Private Wealth Management LLC now owns 725,000 shares of the company’s stock worth $580,000 after acquiring an additional 225,000 shares in the last quarter. Hedge funds and other institutional investors 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.