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

StockNews.com began coverage on shares of Comstock (NYSE:LODE) in a research report sent to investors on Thursday. 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 Price Performance

Shares of LODE stock opened at $0.30 on Thursday. The stock has a 50-day moving average price of $0.18 and a 200 day moving average price of $0.26. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.11. The firm has a market cap of $41.68 million, a price-to-earnings ratio of 3.77 and a beta of 1.91. Comstock has a 12 month low of $0.13 and a 12 month high of $0.63.

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

Insider Transactions at Comstock

In related news, Director Leo M. Drozdoff bought 200,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was bought at an average cost of $0.15 per share, for a total transaction of $30,000.00. Following the transaction, the director now owns 600,000 shares of the company’s stock, valued at $90,000. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Comstock

A hedge fund recently raised its stake in Comstock stock. Renaissance Technologies LLC raised its stake in shares of Comstock Inc. (NYSE:LODE) by 137.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,868,334 shares of the company’s stock after buying an additional 1,662,524 shares during the quarter. Renaissance Technologies LLC owned about 2.07% of Comstock worth $470,000 at the end of the most recent reporting period. Hedge funds and other institutional investors 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.