LADENBURG THALM/SH SH Downgrades Comstock (NYSE:LODE) to Neutral

Key Points

• Comstock (NYSE:LODE) has been downgraded from a "buy" to a "neutral" rating by LADENBURG THALM/SH SH, with a new target price set at $4.00, down from $12.00.
• The stock opened at $2.33 and has a market cap of $82.68 million, with a twelve-month price range between $1.42 and $10.10.
• Institutional investor activity includes significant increases in holdings, with PFG Investments LLC raising its stake by 218.7% in the first quarter.

LADENBURG THALM/SH SH lowered shares of Comstock (NYSE:LODE - Free Report) from a buy rating to a neutral rating in a research report report published on Monday, Marketbeat reports. LADENBURG THALM/SH SH currently has $4.00 price objective on the stock, down from their previous price objective of $12.00.

Comstock Price Performance

Shares of Comstock stock traded up $0.01 during mid-day trading on Monday, reaching $2.47. 777,832 shares of the stock were exchanged, compared to its average volume of 590,756. The company has a market cap of $88.75 million, a price-to-earnings ratio of -20.58 and a beta of 1.64. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.16. The firm has a 50-day simple moving average of $3.42 and a 200 day simple moving average of $2.94. Comstock has a fifty-two week low of $1.67 and a fifty-two week high of $10.10.

Institutional Investors Weigh In On Comstock

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LODE. Geode Capital Management LLC increased its position in Comstock by 21.1% in the 4th quarter. Geode Capital Management LLC now owns 1,942,689 shares of the company's stock valued at $1,556,000 after acquiring an additional 338,538 shares in the last quarter. Mariner LLC acquired a new stake in Comstock in the 4th quarter valued at about $441,000. XTX Topco Ltd increased its position in Comstock by 43.9% in the 4th quarter. XTX Topco Ltd now owns 108,408 shares of the company's stock valued at $87,000 after acquiring an additional 33,095 shares in the last quarter. PEAK6 LLC acquired a new stake in Comstock in the 4th quarter valued at about $156,000. Finally, Northern Trust Corp increased its position in Comstock by 180.4% in the 4th quarter. Northern Trust Corp now owns 438,743 shares of the company's stock valued at $351,000 after acquiring an additional 282,266 shares in the last quarter. Institutional investors and hedge funds own 7.96% of the company's stock.

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.