Comstock (NYSE:LODE) Cut to “Market Perform” at Noble Financial

Comstock (NYSE:LODE) was downgraded by research analysts at Noble Financial from an “outperform” rating to a “market perform” rating in a report released on Wednesday, Marketbeat Ratings reports.

Separately, StockNews.com started coverage on Comstock in a research note on Saturday, September 21st. They set a “sell” rating for the company.

Comstock Stock Performance

Shares of NYSE LODE opened at $0.37 on Wednesday. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average price is $0.41 and its two-hundred day moving average price is $0.30. Comstock has a 52-week low of $0.13 and a 52-week high of $0.72. The stock has a market capitalization of $80.43 million, a P/E ratio of -3.06 and a beta of 1.98.

Comstock (NYSE:LODE) last issued its earnings results on Tuesday, October 22nd. The company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). Comstock had a negative net margin of 1,210.13% and a negative return on equity of 33.56%. The company had revenue of $0.56 million for the quarter, compared to analysts’ expectations of $0.69 million. On average, analysts anticipate that Comstock will post -0.22 earnings per share for the current fiscal year.

Institutional Trading of Comstock

Hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new position in shares of Comstock in the third quarter worth $36,000. Farther Finance Advisors LLC lifted its holdings in Comstock by 19.3% in the second quarter. Farther Finance Advisors LLC now owns 1,356,958 shares of the company’s stock worth $223,000 after purchasing an additional 219,622 shares during the period. Renaissance Technologies LLC grew its position 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 buying an additional 1,662,524 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Comstock by 54.9% during the 3rd 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. 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.