Comstock Target of Unusually Large Options Trading (NYSE:LODE)

Comstock Inc. (NYSE:LODE) saw unusually large options trading on Friday. Investors acquired 20,096 call options on the company. This represents an increase of approximately 1,783% compared to the typical daily volume of 1,067 call options.

Comstock Stock Up 22.7 %

Shares of NYSE LODE opened at $0.69 on Friday. The stock has a market capitalization of $151.18 million, a P/E ratio of -5.75 and a beta of 1.98. The stock’s fifty day moving average is $0.40 and its 200 day moving average is $0.31. Comstock has a 52 week low of $0.13 and a 52 week high of $0.82. 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 announced its quarterly earnings data on Tuesday, October 22nd. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). Comstock had a negative net margin of 1,210.13% and a negative return on equity of 33.56%. The business had revenue of $0.56 million for the quarter, compared to analysts’ expectations of $0.69 million. Sell-side analysts forecast that Comstock will post -0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Noble Financial cut shares of Comstock from an “outperform” rating to a “market perform” rating in a research report on Wednesday, December 18th. StockNews.com assumed coverage on shares of Comstock in a research note on Saturday, September 21st. They issued a “sell” rating for the company.

Hedge Funds Weigh In On Comstock

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its position in Comstock by 137.9% in the second quarter. Renaissance Technologies LLC now owns 2,868,334 shares of the company’s stock valued at $470,000 after purchasing an additional 1,662,524 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Comstock by 54.9% during the third quarter. Geode Capital Management LLC now owns 1,604,151 shares of the company’s stock worth $759,000 after purchasing an additional 568,721 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Comstock by 19.3% in the second quarter. Farther Finance Advisors LLC now owns 1,356,958 shares of the company’s stock valued at $223,000 after buying an additional 219,622 shares during the period. Finally, XTX Topco Ltd bought a new position in Comstock in the 3rd quarter valued at approximately $36,000. 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.