Comstock Sees Unusually Large Options Volume (NYSE:LODE)

Comstock Inc. (NYSE:LODE - Get Free Report) was the target of unusually large options trading on Friday. Stock traders acquired 20,096 call options on the company. This represents an increase of approximately 1,783% compared to the typical daily volume of 1,067 call options.

Hedge Funds Weigh In On Comstock

Institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its position in Comstock by 137.9% during the 2nd 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 in the last quarter. Geode Capital Management LLC lifted its stake in shares of Comstock by 54.9% during the 3rd 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. Farther Finance Advisors LLC boosted 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 valued at $223,000 after purchasing an additional 219,622 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Comstock in the third quarter valued at about $36,000. 7.96% of the stock is owned by hedge funds and other institutional investors.

Comstock Stock Up 22.7 %

Shares of LODE stock traded up $0.13 during mid-day trading on Friday, hitting $0.69. The stock had a trading volume of 47,920,539 shares, compared to its average volume of 3,485,136. The firm has a market capitalization of $151.18 million, a P/E ratio of -5.75 and a beta of 1.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.45 and a quick ratio of 2.45. Comstock has a 12-month low of $0.13 and a 12-month high of $0.82. The firm's 50-day moving average is $0.40 and its two-hundred day moving average is $0.30.

Comstock (NYSE:LODE - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The company reported ($0.03) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.03). The company had revenue of $0.56 million during the quarter, compared to analyst estimates of $0.69 million. Comstock had a negative net margin of 1,210.13% and a negative return on equity of 33.56%. On average, analysts predict that Comstock will post -0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LODE has been the subject of a number of research analyst reports. Noble Financial lowered shares of Comstock from an "outperform" rating to a "market perform" rating in a report on Wednesday, December 18th. StockNews.com started coverage on shares of Comstock in a research note on Saturday, September 21st. They set a "sell" rating for the company.

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.