StockNews.com Begins Coverage on Comstock (NYSE:LODE)

by · The Cerbat Gem

StockNews.com initiated coverage on shares of Comstock (NYSE:LODE – Free Report) in a research note released on Tuesday morning. The brokerage issued a sell rating on the stock.

Comstock Stock Performance

Shares of LODE opened at $0.16 on Tuesday. Comstock has a 12-month low of $0.16 and a 12-month high of $0.83. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.11. The company has a market cap of $22.67 million, a PE ratio of 2.05 and a beta of 1.93. The stock has a 50-day moving average price of $0.24 and a 200-day moving average price of $0.37.

Comstock (NYSE:LODE – Get Free Report) last issued its quarterly earnings results on Monday, April 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $0.43 million for the quarter, compared to the consensus estimate of $0.54 million. Comstock had a negative return on equity of 5.56% and a net margin of 474.79%. As a group, equities analysts forecast that Comstock will post -0.16 earnings per share for the current fiscal year.

Insider Transactions at Comstock

In related news, CEO Corrado Degasperis acquired 1,250,000 shares of the stock in a transaction on Friday, May 17th. The stock was purchased at an average price of $0.40 per share, for a total transaction of $500,000.00. Following the completion of the transaction, the chief executive officer now owns 1,358,180 shares of the company’s stock, valued at approximately $543,272. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have purchased 1,340,000 shares of company stock worth $523,900. Company insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Comstock

An institutional investor recently bought a new position in Comstock stock. Mission Wealth Management LP purchased a new position in Comstock Inc. (NYSE:LODE – Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 85,366 shares of the company’s stock, valued at approximately $47,000. Mission Wealth Management LP owned 0.07% of Comstock as of its most recent SEC filing. 7.96% of the stock is currently owned by hedge funds and other institutional investors.

About Comstock

(Get Free Report)

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.

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