Short Interest in U.S. Gold Corp. (NASDAQ:USAU) Rises By 44.9%

U.S. Gold Corp. (NASDAQ:USAU) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 202,400 shares, a growth of 44.9% from the February 28th total of 139,700 shares. Approximately 1.8% of the company’s shares are short sold. Based on an average trading volume of 227,600 shares, the short-interest ratio is currently 0.9 days.

Institutional Investors Weigh In On U.S. Gold

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in U.S. Gold by 5,775.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,286 shares of the technology company’s stock valued at $42,000 after purchasing an additional 7,162 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in U.S. Gold in the third quarter valued at $59,000. Squarepoint Ops LLC purchased a new position in shares of U.S. Gold in the fourth quarter valued at $69,000. Occudo Quantitative Strategies LP acquired a new position in shares of U.S. Gold during the 4th quarter worth $73,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of U.S. Gold in the 4th quarter worth about $104,000. 6.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on USAU shares. Roth Mkm started coverage on U.S. Gold in a report on Wednesday, December 18th. They set a “buy” rating and a $10.00 target price for the company. Roth Capital raised shares of U.S. Gold to a “strong-buy” rating in a report on Wednesday, December 18th.

U.S. Gold Stock Performance

Shares of U.S. Gold stock opened at $9.44 on Friday. The company has a market cap of $117.87 million, a P/E ratio of -9.44 and a beta of 1.48. The firm has a fifty day moving average of $8.66 and a two-hundred day moving average of $7.24. U.S. Gold has a one year low of $3.77 and a one year high of $11.75.

U.S. Gold (NASDAQ:USAU) last posted its quarterly earnings results on Monday, March 17th. The technology company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.27). As a group, equities analysts predict that U.S. Gold will post -0.95 earnings per share for the current year.

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.