Are Comstock Inc (AMEX: LODE) Analysts Predicting A Spike?

Comstock Inc (AMEX:LODE) shares, rose in value, with the stock price up by 1.56% to the previous day’s close as strong demand from buyers drove the stock to $0.35.

Actively observing the price movement in the last trading, the stock closed the session at $0.34. The value of beta (5-year monthly) was 2.05 whereas the PE ratio was 5.15 over 12-month period. Referring to stock’s 52-week performance, its high was $0.99, and the low was $0.30. On the whole, LODE has fluctuated by -14.25% over the past month.

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With the market capitalization of Comstock Inc currently standing at about $41.75 million, investors are eagerly awaiting this quarter’s results, scheduled for May 01, 2024 – May 06, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.04, which is expected to increase to -$0.04 for fiscal year -$0.15 and then to about $0 by fiscal year 2025.

Analysts have estimated the company’s revenue for the quarter at $540k, with a low estimate of $540k and a high estimate of $540k. According to the average forecast, sales growth in current quarter could jump up 1,700.00%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $2.21 million, representing an increase of 73.50% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that LODE’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of LODE currently trading nearly -7.55% and -19.71% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 38.51, while the 7-day volatility ratio is showing 7.46% which for the 30-day chart, stands at 8.71%. Furthermore, Comstock Inc (LODE)’s beta value is 2.00, and its average true range (ATR) is 0.03.

A comparison of Comstock Inc (LODE) with its peers suggests the former has fared considerably weaker in the market. LODE showed an intraday change of 1.56% in last session, and over the past year, it grew by 2.43%%.

Data on historical trading for Comstock Inc (AMEX:LODE) indicates that the trading volumes over the past 10 days have averaged 0.9 million and over the past 3 months, they’ve averaged 513.26K. According to company’s latest data on outstanding shares, there are 115.26 million shares outstanding.

Nearly 9.14% of Comstock Inc’s shares belong to company insiders and institutional investors own 7.64% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.63 million shares as on Mar 15, 2024, resulting in a short ratio of 1.08. According to the data, the short interest in Comstock Inc (LODE) stood at 0.55% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 0.39 million. The stock has fallen by -36.99% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the LODE stock heading into the next quarter.