StockNews.com initiated coverage on shares of Comstock (NYSE:LODE – Free Report) in a research report report published on Tuesday. The brokerage issued a sell rating on the stock.
Separately, Noble Financial upgraded shares of Comstock from a market perform rating to an outperform rating and set a $2.60 price objective on the stock in a research report on Monday, August 12th.
Check Out Our Latest Report on LODE
Comstock Stock Up 9.6 %
Comstock (NYSE:LODE – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) 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 474.79% and a negative return on equity of 5.56%. As a group, research analysts expect that Comstock will post -0.16 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, Director Leo M. Drozdoff purchased 200,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were purchased at an average price of $0.15 per share, for a total transaction of $30,000.00. Following the completion of the acquisition, the director now directly owns 600,000 shares in the company, valued at approximately $90,000. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.50% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Comstock
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted 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 purchasing an additional 1,662,524 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Comstock by 19.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,356,958 shares of the company’s stock worth $223,000 after buying an additional 219,622 shares in the last quarter. Finally, Mission Wealth Management LP bought a new stake in Comstock during the fourth quarter valued at about $47,000. Hedge funds and other institutional investors 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.
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