Investors Buy Large Volume of Call Options on Comstock (NYSE:LODE)

Comstock Inc. (NYSE:LODE) saw unusually large options trading on Friday. Stock traders acquired 20,096 call options on the company. This is an increase of approximately 1,783% compared to the average volume of 1,067 call options.

Analyst Ratings Changes

A number of brokerages recently issued reports on LODE. Noble Financial lowered shares of Comstock from an “outperform” rating to a “market perform” rating in a report on Wednesday, December 18th. StockNews.com assumed coverage on shares of Comstock in a research note on Saturday, September 21st. They issued a “sell” rating for the company.

Comstock Price Performance

NYSE:LODE opened at $0.69 on Friday. Comstock has a 52 week low of $0.13 and a 52 week high of $0.82. The stock’s fifty day moving average is $0.40 and its two-hundred day moving average is $0.30. The company has a market capitalization of $151.18 million, a P/E ratio of -5.75 and a beta of 1.98. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.16.

Comstock (NYSE:LODE) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03). Comstock had a negative return on equity of 33.56% and a negative net margin of 1,210.13%. The firm had revenue of $0.56 million during the quarter, compared to the consensus estimate of $0.69 million. Equities analysts expect that Comstock will post -0.22 EPS for the current year.

Institutional Investors Weigh In On Comstock

Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its holdings in Comstock by 137.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,868,334 shares of the company’s stock valued at $470,000 after purchasing an additional 1,662,524 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Comstock by 54.9% during the third quarter. Geode Capital Management LLC now owns 1,604,151 shares of the company’s stock worth $759,000 after buying an additional 568,721 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Comstock by 19.3% in the second quarter. Farther Finance Advisors LLC now owns 1,356,958 shares of the company’s stock valued at $223,000 after buying an additional 219,622 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Comstock in the 3rd quarter valued at $36,000. 7.96% of the stock is owned by hedge funds and other institutional investors.

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.