U.S. Gold Corp. (NASDAQ:USAU) Sees Significant Drop in Short Interest

U.S. Gold Corp. (NASDAQ:USAU - Get Free Report) was the recipient of a large decline in short interest in December. As of December 15th, there was short interest totalling 55,700 shares, a decline of 46.0% from the November 30th total of 103,200 shares. Based on an average trading volume of 142,900 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Trading of U.S. Gold

Large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new position in shares of U.S. Gold in the 3rd quarter valued at about $118,000. Quadrature Capital Ltd acquired a new stake in U.S. Gold in the third quarter valued at approximately $59,000. JPMorgan Chase & Co. increased its position in shares of 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 in the last quarter. Geode Capital Management LLC lifted its holdings 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 purchasing an additional 3,778 shares in the last quarter. Finally, Prospera Financial Services Inc boosted its stake in U.S. Gold by 3.8% during the 3rd quarter. Prospera Financial Services Inc now owns 54,500 shares of the technology company's stock worth $317,000 after purchasing an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 6.64% of the company's stock.

U.S. Gold Stock Performance

USAU stock traded down $0.03 during trading on Friday, reaching $6.71. The company had a trading volume of 61,625 shares, compared to its average volume of 99,597. The company has a market cap of $82.69 million, a price-to-earnings ratio of -8.08 and a beta of 1.50. U.S. Gold has a twelve month low of $3.20 and a twelve month high of $8.61. The firm has a 50-day simple moving average of $6.88 and a 200-day simple moving average of $6.05.

U.S. Gold (NASDAQ:USAU - Get Free Report) last posted its quarterly earnings data on Monday, December 16th. The technology company reported ($0.20) EPS for the quarter. Sell-side analysts expect that U.S. Gold will post -1.06 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Roth Capital upgraded shares of U.S. Gold to a "strong-buy" rating in a research note on Wednesday, December 18th. HC Wainwright raised their price objective on U.S. Gold from $11.00 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. Finally, 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.

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.