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 cut 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. They currently have $4.00 price target on the stock, down from their previous price target of $12.00.

Comstock Stock Up 0.4%

LODE traded up $0.01 on Monday, hitting $2.47. The company had a trading volume of 777,837 shares, compared to its average volume of 590,758. The stock has a fifty day moving average price of $3.39 and a 200-day moving average price of $2.93. Comstock has a 12-month low of $1.67 and a 12-month high of $10.10. 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 stock has a market capitalization of $88.75 million, a price-to-earnings ratio of -20.58 and a beta of 1.64.

Hedge Funds Weigh In On Comstock

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in shares of Comstock by 21.1% during the fourth quarter. Geode Capital Management LLC now owns 1,942,689 shares of the company's stock worth $1,556,000 after acquiring an additional 338,538 shares during the last quarter. Mariner LLC purchased a new stake in shares of Comstock during the fourth quarter worth about $441,000. Northern Trust Corp grew its stake in shares of Comstock by 180.4% during the fourth quarter. Northern Trust Corp now owns 438,743 shares of the company's stock worth $351,000 after acquiring an additional 282,266 shares during the last quarter. Savvy Advisors Inc. grew its stake in shares of Comstock by 25.1% during the second quarter. Savvy Advisors Inc. now owns 406,680 shares of the company's stock worth $1,541,000 after acquiring an additional 81,670 shares during the last quarter. Finally, PEAK6 LLC purchased a new stake in shares of Comstock during the fourth quarter worth about $156,000. Hedge funds and other institutional investors 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.