Comstock Sees Unusually High Options Volume (NYSE:LODE)

Comstock Inc. (NYSE:LODE) was the recipient of unusually large options trading activity on Friday. Traders acquired 20,096 call options on the company. This is an increase of approximately 1,783% compared to the average volume of 1,067 call options.

Comstock Trading Up 12.1 %

Shares of Comstock stock traded up $0.07 during trading on Friday, hitting $0.63. The company’s stock had a trading volume of 26,508,752 shares, compared to its average volume of 3,394,180. The stock has a 50-day moving average price of $0.40 and a two-hundred day moving average price of $0.30. Comstock has a 52 week low of $0.13 and a 52 week high of $0.82. The stock has a market cap of $138.10 million, a price-to-earnings ratio of -5.25 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.

Comstock (NYSE:LODE) last posted its quarterly 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). The firm had revenue of $0.56 million for the quarter, compared to analysts’ expectations of $0.69 million. Comstock had a negative return on equity of 33.56% and a negative net margin of 1,210.13%. Equities research analysts anticipate that Comstock will post -0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LODE has been the subject of a number of research reports. StockNews.com began coverage on Comstock in a research note on Saturday, September 21st. They issued a “sell” rating for the company. Noble Financial lowered Comstock from an “outperform” rating to a “market perform” rating in a research note on Wednesday, December 18th.

Institutional Investors Weigh In On Comstock

A number of large investors have recently bought and sold shares of LODE. XTX Topco Ltd acquired a new stake in shares of Comstock in the 3rd quarter valued at about $36,000. Farther Finance Advisors LLC raised its position in shares of Comstock by 19.3% during the second quarter. Farther Finance Advisors LLC now owns 1,356,958 shares of the company’s stock worth $223,000 after purchasing an additional 219,622 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Comstock by 137.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,868,334 shares of the company’s stock worth $470,000 after purchasing an additional 1,662,524 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Comstock by 54.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,604,151 shares of the company’s stock valued at $759,000 after purchasing an additional 568,721 shares in the last quarter. 7.96% of the stock is currently owned by institutional investors and hedge funds.

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.