MYDA Advisors LLC Sells 170,000 Shares of Comstock Inc. $LODE

MYDA Advisors LLC reduced its position in shares of Comstock Inc. (NYSEAMERICAN:LODE) by 48.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 180,000 shares of the company’s stock after selling 170,000 shares during the quarter. MYDA Advisors LLC’s holdings in Comstock were worth $677,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Regal Partners Ltd bought a new stake in Comstock during the 3rd quarter valued at $3,954,000. Apis Capital Advisors LLC increased its position in Comstock by 48.2% during the 3rd quarter. Apis Capital Advisors LLC now owns 504,000 shares of the company’s stock valued at $1,724,000 after purchasing an additional 164,000 shares during the period. Cable Car Capital LP purchased a new position in Comstock during the 3rd quarter valued at $1,368,000. Mariner LLC increased its position in Comstock by 41.0% during the 4th quarter. Mariner LLC now owns 249,428 shares of the company’s stock valued at $938,000 after purchasing an additional 72,575 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Comstock by 16.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 205,251 shares of the company’s stock valued at $772,000 after purchasing an additional 28,818 shares during the period. 7.96% of the stock is currently owned by institutional investors.

Comstock Price Performance

Shares of Comstock stock opened at $4.10 on Monday. The company has a current ratio of 4.51, a quick ratio of 4.51 and a debt-to-equity ratio of 0.08. The company’s fifty day simple moving average is $3.52 and its two-hundred day simple moving average is $3.43. The company has a market cap of $311.23 million, a P/E ratio of -4.27 and a beta of 1.37. Comstock Inc. has a 12-month low of $2.24 and a 12-month high of $4.80.

Comstock (NYSEAMERICAN:LODE) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter. The company had revenue of $0.31 million for the quarter. Comstock had a negative net margin of 4,011.56% and a negative return on equity of 32.51%. Research analysts anticipate that Comstock Inc. will post -0.41 EPS for the current year.

Insider Activity at Comstock

In related news, Director Leo M. Drozdoff acquired 7,000 shares of Comstock stock in a transaction on Wednesday, June 3rd. The shares were acquired at an average cost of $4.11 per share, with a total value of $28,770.00. Following the transaction, the director owned 193,474 shares in the company, valued at $795,178.14. This trade represents a 3.75% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Corrado Degasperis acquired 35,000 shares of Comstock stock in a transaction on Tuesday, May 12th. The shares were bought at an average cost of $2.89 per share, for a total transaction of $101,150.00. Following the completion of the transaction, the chief executive officer owned 170,818 shares in the company, valued at approximately $493,664.02. This trade represents a 25.77% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 861,651 shares of company stock valued at $3,153,981 in the last 90 days. 2.70% of the stock is owned by company insiders.

Comstock Company Profile

Comstock Mining, Inc (NYSE: LODE) is a growth-oriented mineral exploration and production company focused on the historic Comstock Lode in Virginia City, Nevada. The company’s primary business activities include the development, extraction and sale of gold and silver from its flagship Lucerne project. Comstock leverages modern mining techniques and infrastructure to access high-grade ore bodies in one of North America’s most renowned silver-gold districts.

In addition to its core precious metals operations, Comstock Mining maintains a commercial real estate division centered in Virginia City’s historic district.