Comstock (NYSEAMERICAN:LODE) Stock Price Down 6.1% - Here's What Happened

Comstock Inc. (NYSEAMERICAN:LODE - Get Free Report)'s share price was down 6.1% during mid-day trading on Tuesday . The stock traded as low as $3.48 and last traded at $3.53. Approximately 1,005,327 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 1,425,685 shares. The stock had previously closed at $3.76.

Wall Street Analysts Forecast Growth

Separately, LADENBURG THALM/SH SH cut Comstock from a "buy" rating to a "neutral" rating and cut their price objective for the company from $12.00 to $4.00 in a report on Monday, August 18th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $4.00.

Comstock Stock Performance

The stock's 50-day moving average price is $2.94 and its 200 day moving average price is $2.94. The firm has a market cap of $126.83 million, a P/E ratio of -2.94 and a beta of 1.55. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.50 and a quick ratio of 1.50.

Institutional Trading of Comstock

A number of hedge funds and other institutional investors have recently modified their holdings of LODE. Belvedere Trading LLC bought a new stake in shares of Comstock during the 2nd quarter worth approximately $55,000. Citizens Financial Group Inc. RI bought a new position in shares of Comstock in the 2nd quarter valued at about $152,000. PFG Investments LLC increased its stake in shares of Comstock by 218.7% during the 1st quarter. PFG Investments LLC now owns 63,388 shares of the company's stock worth $155,000 after purchasing an additional 43,500 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Comstock in the 2nd quarter valued at about $163,000. Finally, Quadrant Private Wealth Management LLC raised its holdings in shares of Comstock by 14.7% in the 2nd quarter. Quadrant Private Wealth Management LLC now owns 95,160 shares of the company's stock valued at $361,000 after purchasing an additional 12,160 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.

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