Comstock (NYSE:LODE) Shares Down 1.4% - Time to Sell?

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 stock price fell 1.4% during mid-day trading on Monday . The company traded as low as $2.82 and last traded at $2.87. 1,093,746 shares traded hands during mid-day trading, an increase of 73% from the average session volume of 633,285 shares. The stock had previously closed at $2.91.

Analyst Upgrades and Downgrades

Separately, LADENBURG THALM/SH SH lowered shares of Comstock from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $12.00 to $4.00 in a research note on Monday, August 18th. Two equities 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 price target of $4.00.

Comstock Trading Down 1.4%

The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.16. The firm's 50 day simple moving average is $2.98 and its two-hundred day simple moving average is $2.84. The stock has a market cap of $103.12 million, a P/E ratio of -23.91 and a beta of 1.50.

Institutional Investors Weigh In On Comstock

Several institutional investors have recently bought and sold shares of the stock. Quadrant Private Wealth Management LLC lifted its holdings in Comstock by 14.7% in the second quarter. Quadrant Private Wealth Management LLC now owns 95,160 shares of the company's stock worth $361,000 after purchasing an additional 12,160 shares during the period. Belvedere Trading LLC acquired a new stake in Comstock in the second quarter worth about $55,000. Citizens Financial Group Inc. RI acquired a new stake in Comstock in the 2nd quarter valued at about $152,000. XTX Topco Ltd acquired a new stake in Comstock in the 2nd quarter valued at about $163,000. Finally, PFG Investments LLC lifted its holdings in Comstock by 218.7% in the 1st quarter. PFG Investments LLC now owns 63,388 shares of the company's stock valued at $155,000 after acquiring an additional 43,500 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.