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

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

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

Comstock Stock Down 5.5 %

LODE stock opened at $0.32 on Friday. The stock has a market capitalization of $55.83 million, a PE ratio of 3.98 and a beta of 1.91. The company has a fifty day moving average of $0.19 and a 200-day moving average of $0.25. 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 has a one year low of $0.13 and a one year high of $0.63.

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

Insider Buying and Selling

In other news, Director Leo M. Drozdoff bought 200,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were bought at an average cost of $0.15 per share, for a total transaction of $30,000.00. Following the completion of the transaction, the director now owns 600,000 shares in the company, valued at $90,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.50% of the company’s stock.

Institutional Trading of Comstock

An institutional investor recently raised its position in Comstock stock. Farther Finance Advisors LLC grew its position in shares of Comstock Inc. (NYSE:LODE) by 19.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,356,958 shares of the company’s stock after purchasing an additional 219,622 shares during the period. Farther Finance Advisors LLC owned 0.98% of Comstock worth $223,000 at the end of the most recent quarter. Hedge funds and other 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.