Comstock (NYSE:LODE) Trading 6.4% Higher – What’s Next?

Comstock Inc. (NYSE:LODE)’s share price was up 6.4% during trading on Wednesday . The stock traded as high as $0.44 and last traded at $0.43. Approximately 2,630,802 shares changed hands during trading, a decline of 17% from the average daily volume of 3,162,943 shares. The stock had previously closed at $0.41.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Comstock in a report on Saturday, September 21st. They issued a “sell” rating for the company.

Comstock Stock Performance

The firm’s 50 day moving average is $0.41 and its 200 day moving average is $0.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.45 and a current ratio of 2.45. The stock has a market cap of $84.31 million, a P/E ratio of -3.21 and a beta of 1.98.

Comstock (NYSE:LODE) last issued its quarterly 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 for 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%. Analysts anticipate that Comstock Inc. will post -0.22 EPS for the current year.

Hedge Funds Weigh In On Comstock

Several hedge funds have recently modified their holdings of LODE. XTX Topco Ltd purchased a new position in Comstock in the 3rd quarter worth $36,000. Farther Finance Advisors LLC grew its stake in Comstock by 19.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,356,958 shares of the company’s stock valued at $223,000 after purchasing an additional 219,622 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Comstock by 137.9% in 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 during the period. Finally, Geode Capital Management LLC raised its stake in shares of Comstock by 54.9% in the third quarter. Geode Capital Management LLC now owns 1,604,151 shares of the company’s stock worth $759,000 after purchasing an additional 568,721 shares during the last quarter. Institutional investors and hedge funds 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.