Comstock (NYSE:LODE) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Comstock (NYSE:LODE) in a research report sent to investors on Sunday morning. The firm issued a sell rating on the stock.

Comstock Price Performance

Shares of LODE stock opened at $0.29 on Friday. The company has a market cap of $33.82 million, a P/E ratio of 3.65 and a beta of 2.00. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.07. Comstock has a twelve month low of $0.29 and a twelve month high of $0.99. The business has a fifty day simple moving average of $0.39 and a 200 day simple moving average of $0.44.

Comstock (NYSE:LODE) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $0.45 million during the quarter, compared to analysts’ expectations of $1.10 million. Comstock had a negative return on equity of 4.04% and a net margin of 718.51%. On average, sell-side analysts forecast that Comstock will post -0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Comstock

Hedge funds have recently added to or reduced their stakes in the business. Kingswood Wealth Advisors LLC bought a new position in shares of Comstock during the fourth quarter valued at $128,000. Geode Capital Management LLC increased its holdings in Comstock by 27.5% in the second quarter. Geode Capital Management LLC now owns 701,485 shares of the company’s stock valued at $512,000 after purchasing an additional 151,092 shares during the period. BlackRock Inc. raised its position in Comstock by 48.9% during the 2nd quarter. BlackRock Inc. now owns 431,882 shares of the company’s stock worth $315,000 after purchasing an additional 141,832 shares during the last quarter. State Street Corp lifted its holdings in Comstock by 38.3% during the 1st quarter. State Street Corp now owns 174,116 shares of the company’s stock worth $291,000 after buying an additional 48,229 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Comstock by 79.8% during the 1st quarter. Renaissance Technologies LLC now owns 575,884 shares of the company’s stock worth $194,000 after buying an additional 255,678 shares during the period. 7.96% of the stock is currently owned by institutional investors and hedge funds.

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.