Comstock (NYSE:LODE) Cut to “Market Perform” at Noble Financial

Noble Financial cut shares of Comstock (NYSE:LODE) from an outperform rating to a market perform rating in a research report released on Wednesday, MarketBeat Ratings reports.

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

Comstock Price Performance

Shares of NYSE LODE opened at $0.34 on Wednesday. The company has a fifty day moving average price of $0.40 and a 200 day moving average price of $0.30. The firm has a market cap of $73.86 million, a PE ratio of -2.81 and a beta of 1.98. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.16. Comstock has a 1-year low of $0.13 and a 1-year high of $0.72.

Comstock (NYSE:LODE) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). The firm had revenue of $0.56 million during the quarter, compared to the consensus estimate of $0.69 million. Comstock had a negative return on equity of 33.56% and a negative net margin of 1,210.13%. Research analysts predict that Comstock will post -0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Comstock

A number of hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in shares of Comstock during the third quarter worth $36,000. Farther Finance Advisors LLC increased its position in Comstock by 19.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,356,958 shares of the company’s stock valued at $223,000 after buying an additional 219,622 shares in the last quarter. Geode Capital Management LLC grew its stake in Comstock by 54.9% in the third quarter. Geode Capital Management LLC now owns 1,604,151 shares of the company’s stock valued at $759,000 after acquiring an additional 568,721 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of 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 in the last quarter. 7.96% of the stock is currently owned by institutional investors.

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.