Comstock (NYSE:LODE) Stock Price Down 9.7% – Time to Sell?

Comstock Inc. (NYSE:LODE) shares were down 9.7% on Wednesday . The company traded as low as $2.70 and last traded at $2.76. Approximately 444,292 shares traded hands during trading, a decline of 45% from the average daily volume of 813,435 shares. The stock had previously closed at $3.05.

Wall Street Analyst Weigh In

Separately, Noble Financial downgraded Comstock from an “outperform” rating to a “market perform” rating in a report on Wednesday, December 18th.

Comstock Stock Down 11.5 %

The company has a fifty day moving average of $4.18 and a 200 day moving average of $3.82. 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 company has a market cap of $634.71 million, a P/E ratio of -22.50 and a beta of 1.66.

Hedge Funds Weigh In On Comstock

A number of hedge funds have recently modified their holdings of the company. CGN Advisors LLC purchased a new position in Comstock during the fourth quarter valued at $31,000. XTX Topco Ltd purchased a new position in Comstock during the 3rd quarter worth $36,000. PEAK6 LLC bought a new position in shares of Comstock during the fourth quarter valued at approximately $156,000. Kingswood Wealth Advisors LLC grew its position in shares of Comstock by 1,250.0% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 270,000 shares of the company’s stock worth $216,000 after buying an additional 250,000 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Comstock by 180.4% during the fourth quarter. Northern Trust Corp now owns 438,743 shares of the company’s stock worth $351,000 after acquiring an additional 282,266 shares during the last quarter. 7.96% of the stock is currently owned by institutional investors.

Comstock Company 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.