Comstock Inc (AMEX: LODE): Why Investors Shouldn’t Ditch LODE Stock In 2024

In the last trading session, 1.95 million Comstock Inc (AMEX:LODE) shares changed hands as the company’s beta touched 1.84. With the company’s per share price at $0.28 changed hands at -$0.02 or -6.37% during last session, the market valuation stood at $49.48M. LODE’s last price was a discount, traded about -125.0% off its 52-week high of $0.63. The share price had its 52-week low at $0.13, which suggests the last value was 53.57% up since then. When we look at Comstock Inc’s average trading volume, we note the 10-day average is 6.0 million shares, with the 3-month average coming to 6.95 million.

Comstock Inc (AMEX:LODE) trade information

Instantly LODE was in red as seen at the end of in last trading. With action 9.08%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -48.49%, with the 5-day performance at 9.08% in the green. However, in the 30-day time frame, Comstock Inc (AMEX:LODE) is 71.61% up. Looking at the short shares, we see there were 5.04 million shares sold at short interest cover period of 0.4 days.

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Comstock Inc (LODE) estimates and forecasts

Data shows that the Comstock Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -25.51% over the past 6 months, a -13.33% in annual growth rate that is considerably lower than the industry average of 21.60%. Year-over-year growth is forecast to reach 76.60% up from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of 690k. 1 analysts are of the opinion that Comstock Inc’s revenue for the current quarter will be 700k. The company’s revenue for the corresponding quarters a year ago was 761k and 448k respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -9.30%. The estimates for the next quarter sales put growth at 56.20%.

The 2024 estimates are for Comstock Inc earnings to decrease by -290.82%.

Comstock Inc (AMEX:LODE)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 6.88% of Comstock Inc shares while 7.09% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 7.62%. There are 7.09% institutions holding the Comstock Inc stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 2.8076% of the shares, roughly 3.29 million LODE shares worth $0.54 million.

RENAISSANCE TECHNOLOGIES LLC holds the second largest percentage of outstanding shares, with 2.4487% or 2.87 million shares worth $0.47 million as of 2024-06-30.