Others have said, "The Cosmic Man" draws heavily on the ideas, characters presented on "The day Earth Stood Still", and I agree with them.
But, it is still a decent low-budget movie. It is well-intentioned and one can feel that a honest effort was put into making it.
Special effects are at a minimum. The Cosmic Man's spaceship is nothing more than a white sphere with a somewhat irregular surface. There are no blinking lights, no rubber-suited monsters.
The Comic Man is one of these movies to be watched on a rainy Saturday night when there is nothing else to do. In this type of circumstance, "The Cosmic man" can be a good time-filler.
Watch and enjoy for what it is.