Insider Buying: Comstock Inc. (NYSE:LODE) CEO Purchases 1,250,000 Shares of Stock

Comstock Inc. (NYSE:LODE) CEO Corrado Degasperis purchased 1,250,000 shares of Comstock stock in a transaction on Friday, May 17th. The stock was bought at an average cost of $0.40 per share, with a total value of $500,000.00. Following the transaction, the chief executive officer now directly owns 1,358,180 shares of the company’s stock, valued at $543,272. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Comstock Price Performance

Shares of Comstock stock opened at $0.25 on Thursday. Comstock Inc. has a 1-year low of $0.23 and a 1-year high of $0.99. The firm has a fifty day simple moving average of $0.31 and a 200-day simple moving average of $0.42. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $34.53 million, a price-to-earnings ratio of 3.12 and a beta of 2.04.

Comstock (NYSE:LODE) last released its quarterly earnings results on Monday, April 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The firm had revenue of $0.43 million for the quarter, compared to the consensus estimate of $0.54 million. Comstock had a net margin of 474.79% and a negative return on equity of 5.56%. On average, sell-side analysts expect that Comstock Inc. will post -0.16 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Comstock in a report on Thursday, May 16th. They issued a “sell” rating for the company.

Institutional Trading of Comstock

A hedge fund recently bought a new stake in Comstock stock. Mission Wealth Management LP bought a new position in shares of Comstock Inc. (NYSE:LODE) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 85,366 shares of the company’s stock, valued at approximately $47,000. Mission Wealth Management LP owned 0.07% of Comstock at the end of the most recent quarter. 7.96% of the stock is 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.