U.S. Gold (NASDAQ:USAU) Share Price Crosses Above 200-Day Moving Average – What’s Next?

U.S. Gold Corp. (NASDAQ:USAU) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.59 and traded as high as $8.83. U.S. Gold shares last traded at $8.24, with a volume of 195,982 shares traded.

Analyst Upgrades and Downgrades

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

U.S. Gold Stock Performance

The business’s fifty day moving average price is $7.34 and its two-hundred day moving average price is $6.59. The firm has a market capitalization of $101.54 million, a P/E ratio of -8.24 and a beta of 1.56.

U.S. Gold (NASDAQ:USAU) last announced its earnings results on Monday, December 16th. The technology company reported ($0.20) earnings per share for the quarter. Sell-side analysts predict that U.S. Gold Corp. will post -0.95 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in USAU. JPMorgan Chase & Co. raised 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 valued at $42,000 after buying an additional 7,162 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of U.S. Gold during the third quarter valued at about $59,000. Squarepoint Ops LLC purchased a new position in shares of U.S. Gold in the 4th quarter valued at approximately $69,000. Occudo Quantitative Strategies LP acquired a new stake in U.S. Gold in the 4th quarter worth approximately $73,000. Finally, Walleye Capital LLC purchased a new stake in U.S. Gold during the 4th quarter worth approximately $114,000. 6.64% of the stock is currently owned by hedge funds and other institutional investors.

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.