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

Comstock Inc. (NYSE:LODE)’s stock price dropped 2.6% during mid-day 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.

Wall Street Analyst Weigh In

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

Comstock Stock Performance

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

Institutional Trading of Comstock

A number of hedge funds and other institutional investors have recently modified their holdings of LODE. CGN Advisors LLC purchased a new stake in shares of Comstock in the fourth quarter valued at about $31,000. XTX Topco Ltd acquired a new position in Comstock in the 3rd quarter valued at about $36,000. PEAK6 LLC purchased a new stake in shares of Comstock in the 4th quarter valued at approximately $156,000. Kingswood Wealth Advisors LLC increased its holdings in shares of Comstock by 1,250.0% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 270,000 shares of the company’s stock worth $216,000 after buying an additional 250,000 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Comstock by 180.4% during the 4th quarter. Northern Trust Corp now owns 438,743 shares of the company’s stock valued at $351,000 after buying an additional 282,266 shares during the period. 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.