Noble Financial Downgrades Comstock (NYSE:LODE) to Market Perform

Comstock (NYSE:LODE) was downgraded by Noble Financial from an “outperform” rating to a “market perform” rating in a report released on Wednesday, MarketBeat Ratings reports.

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

Comstock Price Performance

Shares of NYSE LODE opened at $0.30 on Wednesday. The stock has a fifty day moving average price of $0.40 and a 200 day moving average price of $0.30. Comstock has a 1-year low of $0.13 and a 1-year high of $0.72. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.45 and a quick ratio of 2.45. The company has a market cap of $66.06 million, a PE ratio of -2.51 and a beta of 1.98.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LODE. Renaissance Technologies LLC grew its holdings in shares of Comstock by 137.9% in the 2nd 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. Geode Capital Management LLC grew its holdings 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 purchasing an additional 568,721 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Comstock by 19.3% in the second 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. Finally, XTX Topco Ltd purchased a new position in shares of Comstock in the third quarter valued at $36,000. 7.96% of the stock is owned by hedge funds and other 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.