Savvy Advisors Inc. Sells 1,825,161 Shares of Comstock Inc. (NYSE:LODE)

Key Points

• Savvy Advisors Inc. sold 1,825,161 shares of Comstock Inc., reducing its stake by 84.9% to approximately 325,010 shares worth $793,000.
• Other institutional investors, such as PFG Investments LLC and Northern Trust Corp, significantly increased their holdings in Comstock during the last quarter.
• LADENBURG THALM/SH SH initiated coverage on Comstock with a "buy" rating and set a price target of $12.00 per share.

Savvy Advisors Inc. lowered its position in Comstock Inc. (NYSE:LODE - Free Report) by 84.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 325,010 shares of the company's stock after selling 1,825,161 shares during the quarter. Savvy Advisors Inc. owned about 1.21% of Comstock worth $793,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. 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 valued at $1,556,000 after buying an additional 338,538 shares during the last quarter. Mariner LLC bought a new position in shares of Comstock during the fourth quarter valued at about $441,000. XTX Topco Ltd boosted its holdings in shares of Comstock by 43.9% during the fourth quarter. XTX Topco Ltd now owns 108,408 shares of the company's stock worth $87,000 after purchasing an additional 33,095 shares during the period. PEAK6 LLC purchased a new stake in shares of Comstock during the fourth quarter worth about $156,000. Finally, Northern Trust Corp boosted its holdings 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 purchasing an additional 282,266 shares during the period. Institutional investors own 7.96% of the company's stock.

Comstock Stock Down 3.8%

LODE traded down $0.12 on Monday, hitting $3.05. The company had a trading volume of 354,032 shares, compared to its average volume of 534,628. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.45 and a quick ratio of 2.45. Comstock Inc. has a 52-week low of $1.35 and a 52-week high of $10.10. The stock has a fifty day simple moving average of $3.57 and a 200-day simple moving average of $3.00. The firm has a market capitalization of $98.87 million, a P/E ratio of -25.41 and a beta of 1.64.

Analyst Upgrades and Downgrades

Separately, LADENBURG THALM/SH SH assumed coverage on shares of Comstock in a report on Tuesday, July 29th. They set a "buy" rating and a $12.00 target price for the company.

Comstock 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.