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

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

Comstock Price Performance

NYSE LODE opened at $0.14 on Monday. The company has a 50 day simple moving average of $0.17 and a 200-day simple moving average of $0.29. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market capitalization of $19.70 million, a price-to-earnings ratio of 1.78 and a beta of 1.92. Comstock has a 52-week low of $0.13 and a 52-week high of $0.63.

Comstock (NYSE:LODE) last posted its quarterly 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). The company had revenue of $0.43 million during the quarter, compared to analysts’ expectations of $0.57 million. Comstock had a negative return on equity of 5.56% and a net margin of 474.79%. Equities research analysts predict that Comstock will post -0.16 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Comstock

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LODE. Renaissance Technologies LLC grew its holdings in Comstock by 137.9% during the second 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. Farther Finance Advisors LLC grew its stake 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 worth $223,000 after acquiring an additional 219,622 shares during the last quarter. Finally, Mission Wealth Management LP acquired a new stake in shares of Comstock in the fourth quarter worth $47,000. Institutional investors and hedge funds 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.