Comstock (NYSE:LODE) Stock Price Down 4.1% – Here’s Why

Comstock Inc. (NYSE:LODE) shares traded down 4.1% during mid-day trading on Friday . The stock traded as low as $0.28 and last traded at $0.31. 2,776,894 shares changed hands 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 analysts recently commented on the stock. StockNews.com assumed coverage on shares of Comstock in a research note on Saturday, September 21st. They set a “sell” rating for the company. 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

The stock has a 50 day moving average of $0.41 and a two-hundred day moving average of $0.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.45 and a quick ratio of 2.45.

Comstock (NYSE:LODE) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported ($0.03) EPS for the quarter, hitting 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%. As a group, equities analysts forecast that Comstock Inc. will post -0.22 EPS for the current year.

Hedge Funds Weigh In On Comstock

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its holdings in 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 purchasing an additional 219,622 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Comstock by 137.9% in the second quarter. Renaissance Technologies LLC now owns 2,868,334 shares of the company’s stock worth $470,000 after buying an additional 1,662,524 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Comstock during the 3rd quarter worth about $36,000. Finally, Geode Capital Management LLC boosted its stake in shares of Comstock by 54.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,604,151 shares of the company’s stock worth $759,000 after acquiring an additional 568,721 shares in the last quarter. Institutional investors 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.