Comstock (NYSE:LODE) Rating Lowered to "Market Perform" at Noble Financial

Noble Financial lowered shares of Comstock (NYSE:LODE - Free Report) from an outperform rating to a market perform rating in a research report report published on Wednesday, MarketBeat reports.

Separately, StockNews.com assumed coverage on shares of Comstock in a report on Saturday, September 21st. They set a "sell" rating for the company.

Comstock Price Performance

LODE traded down $0.07 during trading on Wednesday, hitting $0.30. The company's stock had a trading volume of 10,449,245 shares, compared to its average volume of 3,203,926. Comstock has a 12 month low of $0.13 and a 12 month high of $0.72. The stock has a market capitalization of $65.99 million, a price-to-earnings ratio of -2.51 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's 50 day moving average price is $0.40 and its two-hundred day moving average price is $0.30.

Comstock (NYSE:LODE - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). Comstock had a negative net margin of 1,210.13% and a negative return on equity of 33.56%. The business had revenue of $0.56 million for the quarter, compared to analysts' expectations of $0.69 million. Sell-side analysts forecast that Comstock will post -0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Comstock

Several institutional investors and hedge funds have recently added to or reduced their stakes in LODE. XTX Topco Ltd bought a new stake in shares of Comstock during the 3rd quarter worth approximately $36,000. Farther Finance Advisors LLC increased its holdings 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 buying an additional 219,622 shares during the last quarter. Geode Capital Management LLC raised 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 in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in 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 acquiring an additional 1,662,524 shares during the last quarter. 7.96% of the stock is 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.