Comstock (NYSE:LODE) Trading Down 4.1% – Here’s What Happened

Comstock Inc. (NYSE:LODE) traded down 4.1% during trading on Friday . The stock traded as low as $0.28 and last traded at $0.31. 2,776,894 shares were traded during mid-day trading, a decline of 11% from the average session volume of 3,126,208 shares. The stock had previously closed at $0.32.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Noble Financial raised shares of Comstock from a “market perform” rating to an “outperform” rating and set a $2.60 price target for the company in a report on Monday, August 12th. StockNews.com began coverage on shares of Comstock in a research note on Saturday, September 21st. They set a “sell” rating for the company.

Comstock Price Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.45 and a current ratio of 2.45. The business’s 50 day simple moving average is $0.41 and its 200-day simple moving average is $0.28. The stock has a market capitalization of $65.41 million, a price-to-earnings ratio of -2.59 and a beta of 1.99.

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

Institutional Trading of Comstock

Institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in shares of Comstock in the 3rd quarter worth approximately $36,000. Farther Finance Advisors LLC raised its holdings in shares of Comstock by 19.3% in the 2nd 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 in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Comstock by 137.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,868,334 shares of the company’s stock worth $470,000 after purchasing an additional 1,662,524 shares in the last quarter. 7.96% of the stock is owned by institutional investors and hedge funds.

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.