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

StockNews.com assumed coverage on shares of Comstock (NYSE:LODE) in a research report released on Friday. The firm issued a sell rating on the stock.

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

Comstock Stock Performance

LODE stock opened at $0.29 on Friday. Comstock has a 1 year low of $0.13 and a 1 year high of $0.63. The stock has a market capitalization of $40.73 million, a price-to-earnings ratio of 3.71 and a beta of 1.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.14 and a current ratio of 2.14. The stock’s fifty day moving average is $0.19 and its two-hundred day moving average is $0.25.

Comstock (NYSE:LODE) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $0.43 million during the quarter, compared to the consensus estimate of $0.57 million. Comstock had a net margin of 230.15% and a negative return on equity of 8.67%. On average, research analysts predict that Comstock will post -0.17 EPS for the current year.

Insider Activity

In related news, Director Leo M. Drozdoff bought 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of $0.15 per share, for a total transaction of $30,000.00. Following the transaction, the director now directly owns 600,000 shares of the company’s stock, valued at approximately $90,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Comstock

An institutional investor recently raised its position in Comstock stock. Renaissance Technologies LLC lifted its position in Comstock Inc. (NYSE:LODE) by 137.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,868,334 shares of the company’s stock after buying an additional 1,662,524 shares during the period. Renaissance Technologies LLC owned approximately 2.07% of Comstock worth $470,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 7.96% of the company’s stock.

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.