Comstock (NYSE:LODE) Stock Price Down 2.6% - Here's Why

Comstock Inc. (NYSE:LODE - Get Free Report)'s share price fell 2.6% during mid-day trading on Wednesday . The company traded as low as $2.27 and last traded at $2.29. 218,786 shares were traded during mid-day trading, a decline of 59% from the average session volume of 533,408 shares. The stock had previously closed at $2.35.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LODE shares. StockNews.com raised Comstock to a "sell" rating in a research note on Wednesday, March 12th. Noble Financial cut Comstock from an "outperform" rating to a "market perform" rating in a research report on Wednesday, December 18th.

Comstock Trading Up 0.5 %

The business has a 50-day moving average of $2.89 and a 200 day moving average of $3.82. The stock has a market cap of $51.12 million, a PE ratio of -15.83 and a beta of 1.52. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.45 and a current ratio of 2.45.

Hedge Funds Weigh In On Comstock

A number of institutional investors have recently modified their holdings of LODE. CGN Advisors LLC acquired a new stake in Comstock during the fourth quarter worth approximately $31,000. XTX Topco Ltd acquired a new stake in shares of Comstock during the third quarter worth $36,000. PEAK6 LLC purchased a new stake in shares of Comstock in the fourth quarter valued at $156,000. Kingswood Wealth Advisors LLC increased its stake in Comstock by 1,250.0% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 270,000 shares of the company's stock valued at $216,000 after purchasing an additional 250,000 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Comstock by 180.4% during the fourth quarter. Northern Trust Corp now owns 438,743 shares of the company's stock worth $351,000 after buying an additional 282,266 shares during the period. 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.