Short Interest in U.S. Gold Corp. (NASDAQ:USAU) Decreases By 53.5%

U.S. Gold Corp. (NASDAQ:USAU) was the recipient of a large decline in short interest in July. As of July 15th, there was short interest totalling 60,700 shares, a decline of 53.5% from the June 30th total of 130,500 shares. Based on an average trading volume of 132,700 shares, the days-to-cover ratio is currently 0.5 days.

U.S. Gold Trading Up 5.2 %

U.S. Gold stock traded up $0.29 during mid-day trading on Friday, reaching $5.84. 38,049 shares of the company traded hands, compared to its average volume of 87,192. U.S. Gold has a fifty-two week low of $2.92 and a fifty-two week high of $7.06. The firm’s fifty day moving average is $5.76 and its two-hundred day moving average is $4.54.

Institutional Trading of U.S. Gold

A hedge fund recently bought a new stake in U.S. Gold stock. National Bank of Canada FI acquired a new stake in shares of U.S. Gold Corp. (NASDAQ:USAU) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 21,266 shares of the technology company’s stock, valued at approximately $90,000. National Bank of Canada FI owned approximately 0.23% of U.S. Gold as of its most recent SEC filing. Institutional investors and hedge funds own 6.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of U.S. Gold in a research note on Monday, June 3rd.

About U.S. Gold

U.S. Gold Corp. engages in the exploration and development of gold and precious metals in the United States. It also explores for copper and silver deposits. The company holds 100% interests in the CK Gold project, which consists of various mining leases and other mineral rights covering approximately 1,120 acres in Laramie County, Wyoming; the Keystone project that consists of 601 unpatented lode mining claims covering approximately 20 square miles in Eureka County, Nevada; and the Challis Gold project, which consists of 77 unpatented lode mining claims covering approximately 1,710 acres in Lemhi County, Idaho.