U.S. Gold (NASDAQ:USAU) Shares Cross Above 200 Day Moving Average – Here’s Why

U.S. Gold Corp. (NASDAQ:USAU)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $7.12 and traded as high as $10.44. U.S. Gold shares last traded at $10.27, with a volume of 528,372 shares.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Roth Capital upgraded U.S. Gold to a “strong-buy” rating in a report on Wednesday, December 18th. Roth Mkm began coverage on U.S. Gold in a report on Wednesday, December 18th. They issued a “buy” rating and a $10.00 target price on the stock.

U.S. Gold Stock Performance

The business’s 50-day simple moving average is $8.51 and its 200 day simple moving average is $7.16. The firm has a market cap of $121.11 million, a P/E ratio of -9.70 and a beta of 1.48.

U.S. Gold (NASDAQ:USAU) last posted its quarterly earnings data 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 research analysts expect that U.S. Gold Corp. will post -0.95 EPS for the current year.

Hedge Funds Weigh In On U.S. Gold

Several institutional investors have recently added to or reduced their stakes in USAU. Quadrature Capital Ltd bought a new stake in shares of U.S. Gold in the 3rd quarter worth about $59,000. Jane Street Group LLC purchased a new stake in U.S. Gold in the third quarter worth $118,000. Geode Capital Management LLC boosted its position in 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 buying an additional 3,778 shares during the period. JPMorgan Chase & Co. grew its stake in U.S. Gold by 5,775.8% in the third quarter. JPMorgan Chase & Co. now owns 7,286 shares of the technology company’s stock worth $42,000 after purchasing an additional 7,162 shares in the last quarter. Finally, Commonwealth Equity Services LLC purchased a new stake in U.S. Gold in the fourth quarter worth about $190,000. Hedge funds and other institutional investors own 6.64% of the company’s stock.

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.