Comstock (NYSE:LODE) Now Covered by StockNews.com

Equities researchers at StockNews.com started coverage on shares of Comstock (NYSE:LODE) in a report issued on Saturday. The brokerage set a “sell” rating on the stock.

Separately, Noble Financial raised Comstock from a “market perform” rating to an “outperform” rating and set a $2.60 price objective for the company in a research note on Monday, August 12th.

Comstock Stock Performance

Shares of LODE stock opened at $0.37 on Friday. The company has a market cap of $50.72 million, a price-to-earnings ratio of 4.59 and a beta of 1.91. The stock has a 50 day simple moving average of $0.21 and a 200-day simple moving average of $0.25. Comstock has a 12-month low of $0.13 and a 12-month high of $0.63. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.11.

Comstock (NYSE:LODE) last issued 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. On average, equities analysts forecast that Comstock will post -0.17 EPS for the current year.

Insider Activity at Comstock

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 stock was purchased at an average cost of $0.15 per share, with a total value of $30,000.00. Following the purchase, the director now directly owns 600,000 shares of the company’s stock, valued at approximately $90,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Comstock

A hedge fund recently raised its stake in Comstock stock. Renaissance Technologies LLC lifted its holdings in shares of Comstock Inc. (NYSE:LODE) by 137.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,868,334 shares of the company’s stock after purchasing an additional 1,662,524 shares during the quarter. Renaissance Technologies LLC owned about 2.07% of Comstock worth $470,000 as of its most recent SEC filing. 7.96% of the stock is 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.