Comstock (NYSE:LODE) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Comstock (NYSE:LODE) in a research note issued to investors on Saturday morning. The brokerage 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 target price for the company in a research report on Monday, August 12th.

Comstock Stock Performance

Shares of Comstock stock opened at $0.37 on Friday. The firm’s 50 day moving average is $0.21 and its 200 day moving average is $0.25. The firm has a market capitalization of $50.72 million, a PE ratio of 4.59 and a beta of 1.91. Comstock has a 1 year low of $0.13 and a 1 year high of $0.63. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.11.

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

Insider Buying and Selling at Comstock

In other Comstock news, Director Leo M. Drozdoff acquired 200,000 shares of Comstock stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average price of $0.15 per share, with a total value of $30,000.00. Following the completion of the purchase, the director now directly owns 600,000 shares in the company, valued at approximately $90,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Comstock

An institutional investor recently raised its position in Comstock stock. Renaissance Technologies LLC raised its position in Comstock Inc. (NYSE:LODE) by 137.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,868,334 shares of the company’s stock after purchasing an additional 1,662,524 shares during the period. Renaissance Technologies LLC owned 2.07% of Comstock worth $470,000 as of its most recent filing with the SEC. 7.96% of the stock is currently owned by institutional investors.

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.