U.S. Gold (NASDAQ:USAU) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

U.S. Gold Corp. (NASDAQ:USAU) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.23 and traded as high as $7.54. U.S. Gold shares last traded at $7.50, with a volume of 100,722 shares.

Wall Street Analyst Weigh In

Several brokerages have issued reports on USAU. Roth Mkm started coverage on shares of U.S. Gold in a research note on Wednesday, December 18th. They set a “buy” rating and a $10.00 target price on the stock. Roth Capital raised U.S. Gold to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, HC Wainwright increased their price objective on U.S. Gold from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th.

U.S. Gold Price Performance

The business has a 50 day simple moving average of $6.97 and a 200 day simple moving average of $6.24. The stock has a market cap of $91.04 million, a PE ratio of -7.39 and a beta of 1.54.

U.S. Gold (NASDAQ:USAU) last announced its quarterly earnings results on Monday, December 16th. The technology company reported ($0.20) EPS for the quarter. As a group, sell-side analysts forecast that U.S. Gold Corp. will post -0.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC raised its stake in shares of U.S. Gold by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 105,496 shares of the technology company’s stock valued at $613,000 after acquiring an additional 3,778 shares in the last quarter. Prospera Financial Services Inc raised its position in shares of U.S. Gold by 3.8% in the third quarter. Prospera Financial Services Inc now owns 54,500 shares of the technology company’s stock valued at $317,000 after purchasing an additional 2,000 shares during the period. Jane Street Group LLC acquired a new stake in shares of U.S. Gold in the third quarter worth $118,000. Quadrature Capital Ltd bought a new stake in shares of U.S. Gold during the 3rd quarter worth $59,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of U.S. Gold by 5,775.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,286 shares of the technology company’s stock worth $42,000 after buying an additional 7,162 shares during the period. Institutional investors and hedge funds own 6.64% of the company’s stock.

U.S. Gold Company Profile

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.