U.S. Gold (NASDAQ:USAU) Stock Crosses Above 200-Day Moving Average – Here’s Why

U.S. Gold Corp. (NASDAQ:USAU)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.23 and traded as high as $7.54. U.S. Gold shares last traded at $7.50, with a volume of 100,722 shares changing hands.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Roth Mkm initiated coverage on U.S. Gold in a research report on Wednesday, December 18th. They set a “buy” rating and a $10.00 target price on the stock. Roth Capital upgraded U.S. Gold to a “strong-buy” rating in a report on Wednesday, December 18th. Finally, HC Wainwright increased their target price on U.S. Gold from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th.

U.S. Gold Price Performance

The firm has a market cap of $92.40 million, a P/E ratio of -7.50 and a beta of 1.54. The firm’s 50-day moving average price is $6.98 and its 200 day moving average price is $6.23.

U.S. Gold (NASDAQ:USAU) last announced its quarterly earnings data on Monday, December 16th. The technology company reported ($0.20) earnings per share (EPS) for the quarter. Analysts forecast that U.S. Gold Corp. will post -0.97 earnings per share for the current year.

Hedge Funds Weigh In On U.S. Gold

A number of hedge funds have recently added to or reduced their stakes in USAU. JPMorgan Chase & Co. lifted its position in shares of 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 worth $42,000 after buying an additional 7,162 shares during the last quarter. Quadrature Capital Ltd bought a new position in U.S. Gold in the third quarter worth about $59,000. Jane Street Group LLC bought a new position in U.S. Gold in the third quarter worth about $118,000. Prospera Financial Services Inc boosted its stake in U.S. Gold by 3.8% in the third quarter. Prospera Financial Services Inc now owns 54,500 shares of the technology company’s stock valued at $317,000 after acquiring an additional 2,000 shares during the period. Finally, Geode Capital Management LLC grew its holdings 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 valued at $613,000 after purchasing an additional 3,778 shares during the last quarter. Institutional investors and hedge funds own 6.64% of the company’s stock.

U.S. Gold Company Profile

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.