Comstock (NYSE:LODE) Stock Price Up 6.4% – Still a Buy?

Comstock Inc. (NYSE:LODE) shares traded up 6.4% on Wednesday . The company traded as high as $0.44 and last traded at $0.43. 2,630,802 shares traded hands during trading, a decline of 17% from the average session volume of 3,162,943 shares. The stock had previously closed at $0.41.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Comstock in a research note on Saturday, September 21st. They issued a “sell” rating on the stock.

Comstock Stock Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.45 and a current ratio of 2.45. The company has a market capitalization of $84.31 million, a PE ratio of -3.21 and a beta of 1.98. The stock has a fifty day moving average of $0.41 and a 200 day moving average of $0.29.

Comstock (NYSE:LODE) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported ($0.03) EPS for the quarter, meeting 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 return on equity of 33.56% and a negative net margin of 1,210.13%. As a group, sell-side analysts predict that Comstock Inc. will post -0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Comstock

Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its position in shares of Comstock by 137.9% during the second quarter. Renaissance Technologies LLC now owns 2,868,334 shares of the company’s stock worth $470,000 after purchasing an additional 1,662,524 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Comstock by 54.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,604,151 shares of the company’s stock valued at $759,000 after buying an additional 568,721 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Comstock by 19.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,356,958 shares of the company’s stock valued at $223,000 after buying an additional 219,622 shares during the period. Finally, XTX Topco Ltd bought a new position in Comstock in the 3rd quarter worth about $36,000. 7.96% of the stock is owned by hedge funds and other institutional investors.

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.