Comstock Inc. (NYSE:LODE) Shares Sold by Savvy Advisors Inc.

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

A number of other institutional investors and hedge funds have also recently modified their holdings of LODE. Geode Capital Management LLC lifted its position in shares of Comstock by 21.1% during the 4th 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 in the last quarter. Mariner LLC purchased a new position in shares of Comstock during the 4th quarter valued at approximately $441,000. XTX Topco Ltd lifted its position in shares of Comstock by 43.9% during the 4th quarter. XTX Topco Ltd now owns 108,408 shares of the company's stock valued at $87,000 after buying an additional 33,095 shares in the last quarter. PEAK6 LLC purchased a new position in shares of Comstock during the 4th quarter valued at approximately $156,000. Finally, Northern Trust Corp lifted its position in shares of Comstock by 180.4% during the 4th quarter. Northern Trust Corp now owns 438,743 shares of the company's stock valued at $351,000 after buying an additional 282,266 shares in the last quarter. Institutional investors and hedge funds own 7.96% of the company's stock.

Comstock Price Performance

Shares of NYSE:LODE traded down $0.73 during midday trading on Wednesday, reaching $2.30. 3,066,260 shares of the company's stock traded hands, compared to its average volume of 549,503. The company has a fifty day simple moving average of $3.57 and a two-hundred day simple moving average of $3.00. Comstock Inc. has a 1 year low of $1.35 and a 1 year 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 company has a market cap of $74.39 million, a P/E ratio of -19.07 and a beta of 1.64.

Analyst Ratings Changes

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

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.