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

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

Separately, Noble Financial raised shares of Comstock from a market perform rating to an outperform rating and set a $2.60 target price for the company in a research note on Monday, August 12th.

Comstock Stock Up 6.3 %

Shares of LODE opened at $0.39 on Friday. The business’s fifty day moving average price is $0.22 and its two-hundred day moving average price is $0.25. The firm has a market capitalization of $53.92 million, a price-to-earnings ratio of 4.88 and a beta of 1.91. Comstock has a 52 week low of $0.13 and a 52 week high of $0.63. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.14 and a current ratio of 2.14.

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

Insider Activity at Comstock

In other news, Director Leo M. Drozdoff bought 200,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of $0.15 per share, with a total value of $30,000.00. Following the completion of the acquisition, the director now owns 600,000 shares of the company’s stock, valued at $90,000. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Comstock stock. Farther Finance Advisors LLC increased its stake in Comstock Inc. (NYSE:LODE) by 19.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,356,958 shares of the company’s stock after acquiring an additional 219,622 shares during the quarter. Farther Finance Advisors LLC owned about 0.98% of Comstock worth $223,000 at the end of the most recent reporting period. 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.