MYDA Advisors LLC Sells 170,000 Shares of Comstock Inc. $LODE

MYDA Advisors LLC trimmed its holdings in Comstock Inc. (NYSEAMERICAN:LODE) by 48.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 180,000 shares of the company’s stock after selling 170,000 shares during the quarter. MYDA Advisors LLC owned 0.35% of Comstock worth $677,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LODE. Alyeska Investment Group L.P. bought a new stake in shares of Comstock in the 3rd quarter worth approximately $4,104,000. Regal Partners Ltd bought a new stake in shares of Comstock in the 3rd quarter worth approximately $3,954,000. Vanguard Group Inc. lifted its holdings in shares of Comstock by 90.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,131,469 shares of the company’s stock worth $7,290,000 after acquiring an additional 1,009,539 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Comstock by 3,811.1% in the 4th quarter. Marshall Wace LLP now owns 669,494 shares of the company’s stock worth $2,517,000 after acquiring an additional 652,376 shares during the last quarter. Finally, Cable Car Capital LP bought a new stake in shares of Comstock in the 3rd quarter worth approximately $1,368,000. 7.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Comstock

In other news, Director Leo M. Drozdoff purchased 7,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was bought at an average cost of $4.11 per share, for a total transaction of $28,770.00. Following the acquisition, the director directly owned 193,474 shares of the company’s stock, valued at $795,178.14. This represents a 3.75% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven Yu-Tsung Pei purchased 180,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were purchased at an average price of $3.93 per share, with a total value of $707,400.00. Following the completion of the acquisition, the director directly owned 1,890,980 shares in the company, valued at $7,431,551.40. The trade was a 10.52% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 861,651 shares of company stock valued at $3,153,981. Insiders own 2.70% of the company’s stock.

Comstock Stock Performance

Shares of LODE opened at $4.10 on Monday. The firm has a market cap of $311.23 million, a price-to-earnings ratio of -4.27 and a beta of 1.37. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.51 and a current ratio of 4.51. Comstock Inc. has a fifty-two week low of $2.24 and a fifty-two week high of $4.80. The firm has a 50 day moving average price of $3.52 and a 200-day moving average price of $3.43.

Comstock (NYSEAMERICAN:LODE) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) earnings per share for the quarter. The business had revenue of $0.31 million during the quarter. Comstock had a negative return on equity of 32.51% and a negative net margin of 4,011.56%. As a group, equities research analysts forecast that Comstock Inc. will post -0.41 earnings per share for the current year.

Comstock Profile

Comstock Mining, Inc (NYSE: LODE) is a growth-oriented mineral exploration and production company focused on the historic Comstock Lode in Virginia City, Nevada. The company’s primary business activities include the development, extraction and sale of gold and silver from its flagship Lucerne project. Comstock leverages modern mining techniques and infrastructure to access high-grade ore bodies in one of North America’s most renowned silver-gold districts.

In addition to its core precious metals operations, Comstock Mining maintains a commercial real estate division centered in Virginia City’s historic district.