Comstock Inc.
LODE · Industrial Organic Chemicals · 75.9M shares · -14%/yr ↓ buyback · EDGAR filings ↗
Reference price $4.10 · est. market cap ~$312M — last insider purchase, 2026-06-12 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D44Development-stage clean-energy/solar-recycling story with deeply negative margins, funded for now by recent equity raises.
Strengths
- Solid liquidity: $56M cash (57th pct), current ratio 2.06, no debt; raised ~$46M net in Jan 2026
- Quick ratio 73rd pct provides near-term cushion to fund commissioning
Risks
- Pre-scale economics: gross margin -69% (6th pct), net margin -2772%, ROE -40%
- Continued cash burn (OCF margin -16%) dependent on serial capital raises to build out facilities
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Auditor changeRecent 8-K item 4.01 8-K ↗
- Net lossNet loss (net margin -2772.3%)
- Insider buyingInsider buying — 14 open-market buy(s) by 5 insider(s) (cluster of 5 insiders, ~$4M, last 6mo) Form 4 ↗
- Buying back stockNet buyback — share count -14%/yr over 4y
- Revenue declineRevenue -16.3% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
-69.1%
Operating margin
-2455.2%
Net margin
-2772.3%
Return on equity
-40.0%
Return on assets
-25.4%
ROIC
-28.0%
Revenue growth (QoQ)
-16.3%
Debt / equity
0.0×
Current ratio
2.1×
EBITDA
-$34M
Tangible book value
$81M
Cash & investments
$56M
Stock comp / revenue
0.0%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-12 | Pei Steven Yu-Tsung | Buy | 150K | $4.10 |
| 2026-06-11 | Pei Steven Yu-Tsung | Buy | 100K | $4.09 |
| 2026-06-03 | DEGASPERIS CORRADO | Buy | 11K | $3.98 |
| 2026-06-03 | SPENCE ROBERT | Buy | 24K | $3.97 |
| 2026-06-03 | Pei Steven Yu-Tsung | Buy | 180K | $3.93 |
| 2026-06-03 | Drozdoff Leo M | Buy | 7.0K | $4.11 |
| 2026-06-02 | Pei Steven Yu-Tsung | Buy | 154K | $4.10 |
| 2026-06-01 | Pei Steven Yu-Tsung | Buy | 26K | $4.14 |
| 2026-05-14 | Pei Steven Yu-Tsung | Buy | 80K | $3.42 |
| 2026-05-13 | Pei Steven Yu-Tsung | Buy | 345K | $3.38 |
| 2026-05-12 | DEGASPERIS CORRADO | Buy | 35K | $2.89 |
| 2026-04-16 | Pei Steven Yu-Tsung | Grant | 8.0K | — |
| 2026-04-09 | Salinas Mayaguez J | Grant | 8.0K | — |
| 2026-04-08 | SPENCE ROBERT | Grant | 8.0K | — |
| 2026-04-08 | COLVIN DONALD A | Grant | 8.0K | — |
| 2026-04-07 | Slanina Kristin | Grant | 8.0K | — |
| 2026-04-06 | Drozdoff Leo M | Grant | 8.0K | — |
| 2026-04-06 | Marting Walter A. Jr | Grant | 8.0K | — |
| 2026-04-06 | NANCE WILLIAM JOHN | Grant | 8.0K | — |
| 2026-03-30 | Drozdoff Leo M | Buy | 28K | $3.00 |
| 2026-03-30 | Drozdoff Leo M | Buy | 28K | $3.00 |
| 2026-03-30 | Merrill Judd | Buy | 3.7K | $3.08 |
| 2026-01-05 | Salinas Mayaguez J | Grant | 89K | — |
| 2026-01-05 | Drozdoff Leo M | Grant | 90K | — |
| 2026-01-05 | NANCE WILLIAM JOHN | Grant | 90K | — |
| 2026-01-05 | Slanina Kristin | Grant | 103K | — |
| 2026-01-05 | Marting Walter A. Jr | Grant | 90K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-24 | Material agreementExhibits | filing ↗ |
| 2026-06-17 | Exec/director changeExhibits | filing ↗ |
| 2026-06-17 | Reg FDExhibits | filing ↗ |
| 2026-06-09 | Auditor changeExhibits | filing ↗ |
| 2026-06-01 | Shareholder voteReg FDExhibits | filing ↗ |
| 2026-05-08 | ResultsReg FDExhibits | filing ↗ |
| 2026-04-01 | Material agreementExhibits | filing ↗ |
| 2026-03-25 | Material agreementExec/director changeExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-24 | 2026-06-21 | 0001437749-26-021491 ↗ |
| 8-K | 2026-06-17 | 2026-06-17 | 0001437749-26-020855 ↗ |
| 8-K | 2026-06-17 | 2026-06-15 | 0001437749-26-021003 ↗ |
| 8-K | 2026-06-09 | 2026-06-03 | 0001437749-26-019911 ↗ |
| 8-K | 2026-06-01 | 2026-05-28 | 0001437749-26-019042 ↗ |
| 8-K | 2026-05-08 | 2026-05-07 | 0001437749-26-015741 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001437749-26-015573 ↗ |
| 8-K | 2026-04-01 | 2026-03-30 | 0001437749-26-010897 ↗ |
| 8-K | 2026-03-25 | 2026-03-24 | 0001437749-26-009779 ↗ |
| 8-K | 2026-03-25 | 2026-03-23 | 0001437749-26-009786 ↗ |
| 10-K | 2026-03-24 | 2025-12-31 | 0001437749-26-009589 ↗ |
| 8-K | 2026-02-03 | 2026-02-03 | 0001437749-26-002817 ↗ |