Noble Financial Downgrades Comstock (NYSE:LODE) to Market Perform

Comstock (NYSE:LODE) was downgraded by stock analysts at Noble Financial from an “outperform” rating to a “market perform” rating in a research note issued on Wednesday, Marketbeat reports.

Separately, StockNews.com began coverage on Comstock in a research report on Saturday, September 21st. They set a “sell” rating on the stock.

Comstock Stock Performance

Shares of NYSE LODE opened at $0.30 on Wednesday. The company has a 50-day simple moving average of $0.40 and a 200-day simple moving average of $0.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.45 and a quick ratio of 2.45. The company has a market cap of $66.06 million, a PE ratio of -2.51 and a beta of 1.98. Comstock has a 12 month low of $0.13 and a 12 month high of $0.72.

Comstock (NYSE:LODE) last released its earnings results on Tuesday, October 22nd. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). Comstock had a negative net margin of 1,210.13% and a negative return on equity of 33.56%. The firm had revenue of $0.56 million during the quarter, compared to analysts’ expectations of $0.69 million. On average, equities analysts anticipate that Comstock will post -0.22 earnings per share for the current year.

Hedge Funds Weigh In On Comstock

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