Stock Traders Buy Large Volume of Comstock Call Options (NYSE:LODE)

Comstock Inc. (NYSE:LODE) was the target of some unusual options trading activity on Friday. Traders bought 20,096 call options on the stock. This is an increase of approximately 1,783% compared to the average daily volume of 1,067 call options.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC increased its holdings in shares of Comstock by 137.9% in the second 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 period. Geode Capital Management LLC grew its position in Comstock by 54.9% in the 3rd 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 last quarter. Farther Finance Advisors LLC grew its position in Comstock by 19.3% in the 2nd 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 during the last quarter. Finally, XTX Topco Ltd acquired a new position in Comstock in the 3rd quarter valued at $36,000. 7.96% of the stock is currently owned by institutional investors and hedge funds.

Comstock Price Performance

Shares of NYSE:LODE opened at $0.69 on Friday. Comstock has a 12 month low of $0.13 and a 12 month high of $0.82. The firm 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 debt-to-equity ratio of 0.16, a current ratio of 2.45 and a quick ratio of 2.45. The company’s fifty day moving average price is $0.40 and its 200 day moving average price is $0.30.

Comstock (NYSE:LODE) last announced its earnings results 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 net margin of 1,210.13% and a negative return on equity of 33.56%. The business had revenue of $0.56 million for the quarter, compared to analyst estimates of $0.69 million. As a group, sell-side analysts predict that Comstock will post -0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. StockNews.com assumed coverage on Comstock in a report on Saturday, September 21st. They set a “sell” rating on the stock. Noble Financial downgraded Comstock from an “outperform” rating to a “market perform” rating in a research report on Wednesday, December 18th.

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.