U.S. Gold (NASDAQ:USAU) Stock Price Expected to Rise, HC Wainwright Analyst Says

U.S. Gold (NASDAQ:USAU) had its price objective upped by analysts at HC Wainwright from $11.00 to $13.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. HC Wainwright’s target price would suggest a potential upside of 64.97% from the stock’s current price.

U.S. Gold Price Performance

NASDAQ:USAU opened at $7.88 on Wednesday. The business has a 50 day simple moving average of $6.10 and a 200 day simple moving average of $5.72. The firm has a market capitalization of $84.87 million, a P/E ratio of -9.49 and a beta of 1.45. U.S. Gold has a 12-month low of $3.20 and a 12-month high of $8.50.

U.S. Gold (NASDAQ:USAU) last announced its earnings results on Monday, September 16th. The technology company reported ($0.24) earnings per share for the quarter. Research analysts anticipate that U.S. Gold will post -0.94 EPS for the current fiscal year.

Institutional Trading of U.S. Gold

A number of hedge funds and other institutional investors have recently modified their holdings of USAU. Prospera Financial Services Inc raised its stake in shares of U.S. Gold by 3.8% in the 3rd quarter. Prospera Financial Services Inc now owns 54,500 shares of the technology company’s stock worth $317,000 after buying an additional 2,000 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of U.S. Gold in the 3rd quarter worth $59,000. Jane Street Group LLC acquired a new stake in shares of U.S. Gold during the third quarter worth $118,000. Finally, Geode Capital Management LLC raised its position in shares of U.S. Gold by 3.7% during the third quarter. Geode Capital Management LLC now owns 105,496 shares of the technology company’s stock worth $613,000 after purchasing an additional 3,778 shares during the period. 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.