CGN Advisors LLC Acquires New Shares in Comstock Inc. (NYSE:LODE)

CGN Advisors LLC bought a new position in Comstock Inc. (NYSE:LODE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 38,628 shares of the company’s stock, valued at approximately $31,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in Comstock by 54.9% during the third quarter. Geode Capital Management LLC now owns 1,604,151 shares of the company’s stock valued at $759,000 after acquiring an additional 568,721 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Comstock by 137.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,868,334 shares of the company’s stock worth $470,000 after acquiring an additional 1,662,524 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Comstock during the 3rd quarter valued at about $36,000. 7.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Comstock Price Performance

Shares of NYSE:LODE opened at $0.30 on Friday. 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 business has a 50 day moving average price of $0.43 and a 200 day moving average price of $0.34. The company has a market cap of $65.58 million, a price-to-earnings ratio of -2.49 and a beta of 1.66. Comstock Inc. has a twelve month low of $0.13 and a twelve month high of $1.01.

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

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.