Comstock (NYSE:LODE) Shares Down 2.6% – Should You Sell?

Comstock Inc. (NYSE:LODE)’s stock price fell 2.6% during trading on Wednesday . The company traded as low as $2.27 and last traded at $2.29. 218,786 shares were traded during mid-day trading, a decline of 59% from the average session volume of 533,408 shares. The stock had previously closed at $2.35.

Analyst Ratings Changes

Several equities analysts recently weighed in on LODE shares. Noble Financial downgraded Comstock from an “outperform” rating to a “market perform” rating in a research report on Wednesday, December 18th. StockNews.com raised shares of Comstock to a “sell” rating in a research note on Wednesday, March 12th.

Comstock Stock Performance

The stock’s fifty day simple moving average is $3.00 and its two-hundred day simple moving average is $3.85. The company has a market cap of $61.61 million, a price-to-earnings ratio of -19.08 and a beta of 1.59. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.45 and a current ratio of 2.45.

Hedge Funds Weigh In On Comstock

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in Comstock by 54.9% in the third quarter. Geode Capital Management LLC now owns 1,604,151 shares of the company’s stock valued at $759,000 after buying an additional 568,721 shares during the period. Kingswood Wealth Advisors LLC increased its position in shares of Comstock by 1,250.0% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 270,000 shares of the company’s stock worth $216,000 after acquiring an additional 250,000 shares in the last quarter. CGN Advisors LLC purchased a new position in shares of Comstock in the 4th quarter valued at $31,000. XTX Topco Ltd acquired a new position in shares of Comstock during the 3rd quarter valued at $36,000. Finally, Northern Trust Corp lifted its holdings 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 acquiring an additional 282,266 shares in the last quarter. 7.96% of the stock is owned by institutional investors and hedge funds.

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.