U.S. Gold Corp. (NASDAQ:USAU – Get Free Report) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 112,000 shares, an increase of 63.0% from the May 31st total of 68,700 shares. Based on an average daily volume of 134,400 shares, the days-to-cover ratio is currently 0.8 days.
Hedge Funds Weigh In On U.S. Gold
An institutional investor recently bought a new position in U.S. Gold stock. National Bank of Canada FI purchased a new position in shares of U.S. Gold Corp. (NASDAQ:USAU – Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 21,266 shares of the technology company’s stock, valued at approximately $90,000. National Bank of Canada FI owned 0.23% of U.S. Gold as of its most recent SEC filing. Institutional investors own 6.64% of the company’s stock.
Analysts Set New Price Targets
Separately, HC Wainwright reissued a “buy” rating and set a $11.00 price target on shares of U.S. Gold in a report on Monday, June 3rd.
U.S. Gold Price Performance
Shares of NASDAQ:USAU traded up $0.10 during trading on Friday, reaching $5.17. The company had a trading volume of 70,261 shares, compared to its average volume of 124,435. The stock’s fifty day moving average price is $5.21 and its 200 day moving average price is $4.29. U.S. Gold has a fifty-two week low of $2.92 and a fifty-two week high of $7.06. The firm has a market capitalization of $48.24 million, a price-to-earnings ratio of -7.08 and a beta of 1.38.
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.
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