Comstock (NYSE:LODE) Trading Down 1.4% - What's Next?

Key Points

• Comstock Inc.'s stock price fell 1.4% during mid-day trading, reaching a low of $2.82 and recently trading at $2.87, with a significant increase in trading volume.
• Analysts at LADENBURG THALM/SH SH downgraded Comstock from a "buy" to a "neutral" rating, slashing their price target from $12.00 to $4.00.
• Institutional investors have shown interest, with several acquiring new stakes or increasing their holdings, collectively owning 7.96% of the company's stock.

Comstock Inc. (NYSE:LODE - Get Free Report)'s share price was down 1.4% on Monday . The company traded as low as $2.82 and last traded at $2.87. Approximately 1,093,746 shares were traded during mid-day trading, an increase of 73% from the average daily volume of 633,285 shares. The stock had previously closed at $2.91.

Analyst Ratings Changes

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

Comstock Trading Up 5.6%

The stock has a market cap of $115.34 million, a P/E ratio of -26.75 and a beta of 1.50. The stock's fifty day moving average price is $2.93 and its 200 day moving average price is $2.85. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.16.

Institutional Investors Weigh In On Comstock

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new position in shares of Comstock during the 2nd quarter valued at approximately $163,000. Citizens Financial Group Inc. RI bought a new position in shares of Comstock in the second quarter worth about $152,000. Geode Capital Management LLC increased its stake in shares of Comstock by 23.7% during the second quarter. Geode Capital Management LLC now owns 277,099 shares of the company's stock valued at $1,050,000 after buying an additional 53,111 shares during the period. Quadrant Private Wealth Management LLC grew its stake in Comstock by 14.7% in the second 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 last quarter. Finally, Savvy Advisors Inc. raised its holdings in Comstock by 25.1% in the second quarter. Savvy Advisors Inc. now owns 406,680 shares of the company's stock worth $1,541,000 after purchasing an additional 81,670 shares in the last quarter. 7.96% of the stock is owned by hedge funds and other institutional investors.

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.