Comstock (NYSE:LODE) Downgraded by Noble Financial to Market Perform

Noble Financial lowered shares of Comstock (NYSE:LODE) from an outperform rating to a market perform rating in a research report report published on Wednesday morning, MarketBeat.com reports.

Separately, StockNews.com initiated coverage on Comstock in a research report on Saturday, September 21st. They issued a “sell” rating for the company.

Comstock Trading Up 11.8 %

Shares of LODE opened at $0.34 on Wednesday. Comstock has a fifty-two week low of $0.13 and a fifty-two week high of $0.72. The business has a 50-day moving average of $0.40 and a 200 day moving average of $0.30. The firm has a market cap of $73.86 million, a P/E ratio of -2.81 and a beta of 1.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.45 and a current ratio of 2.45.

Comstock (NYSE:LODE) last released its quarterly earnings data on Tuesday, October 22nd. The company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). The company 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, research analysts forecast that Comstock will post -0.22 EPS for the current year.

Institutional Investors Weigh In On Comstock

Several institutional investors and hedge funds have recently made changes to their positions in the company. XTX Topco Ltd bought a new stake in shares of Comstock during the 3rd quarter valued at about $36,000. Farther Finance Advisors LLC raised its holdings in Comstock by 19.3% during the second quarter. Farther Finance Advisors LLC now owns 1,356,958 shares of the company’s stock valued at $223,000 after acquiring an additional 219,622 shares during the period. Renaissance Technologies LLC boosted its stake in 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 during the period. Finally, Geode Capital Management LLC grew its stake in Comstock by 54.9% during the third quarter. Geode Capital Management LLC now owns 1,604,151 shares of the company’s stock valued at $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.