Comstock (NYSE:LODE) Downgraded by Noble Financial to Market Perform

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

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

Comstock Trading Up 5.6 %

Shares of LODE traded up $0.02 during trading hours on Wednesday, reaching $0.32. The stock had a trading volume of 1,584,397 shares, compared to its average volume of 3,198,137. The company has a market cap of $69.70 million, a P/E ratio of -2.65 and a beta of 1.98. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average of $0.40 and a 200 day moving average of $0.30. Comstock has a 52 week low of $0.13 and a 52 week high of $0.72.

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

Institutional Trading of Comstock

Several institutional investors and hedge funds have recently bought and sold shares of LODE. XTX Topco Ltd acquired a new stake in shares of Comstock during the 3rd quarter worth about $36,000. Farther Finance Advisors LLC lifted its position 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. Geode Capital Management LLC lifted its position in Comstock by 54.9% during the third quarter. Geode Capital Management LLC now owns 1,604,151 shares of the company’s stock worth $759,000 after acquiring an additional 568,721 shares during the last quarter. Finally, Renaissance Technologies LLC boosted 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 worth $470,000 after acquiring an additional 1,662,524 shares during the period. 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.