U.S. Gold Corp. (NASDAQ:USAU) Short Interest Up 44.9% in March

U.S. Gold Corp. (NASDAQ:USAU - Get Free Report) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 202,400 shares, an increase of 44.9% from the February 28th total of 139,700 shares. Based on an average daily volume of 227,600 shares, the short-interest ratio is presently 0.9 days. Approximately 1.8% of the shares of the stock are short sold.

U.S. Gold Price Performance

NASDAQ USAU traded down $0.35 during trading hours on Thursday, reaching $9.10. 185,797 shares of the stock traded hands, compared to its average volume of 152,759. The stock has a 50 day simple moving average of $8.80 and a two-hundred day simple moving average of $7.31. U.S. Gold has a 1 year low of $3.80 and a 1 year high of $11.75. The company has a market cap of $113.62 million, a price-to-earnings ratio of -9.10 and a beta of 1.48.

U.S. Gold (NASDAQ:USAU - Get Free Report) last issued its earnings results on Monday, March 17th. The technology company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.27). On average, sell-side analysts forecast that U.S. Gold will post -0.95 EPS for the current fiscal year.

Analysts Set New Price Targets

USAU has been the topic of several research analyst reports. Roth Capital raised shares of U.S. Gold to a "strong-buy" rating in a report on Wednesday, December 18th. Roth Mkm initiated coverage on U.S. Gold in a report on Wednesday, December 18th. They issued a "buy" rating and a $10.00 price target on the stock.

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Institutional Trading of U.S. Gold

Several hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in shares of U.S. Gold by 3.7% in the third quarter. Geode Capital Management LLC now owns 105,496 shares of the technology company's stock worth $613,000 after buying an additional 3,778 shares during the period. Renaissance Technologies LLC increased its stake in U.S. Gold by 296.4% in the 4th quarter. Renaissance Technologies LLC now owns 93,900 shares of the technology company's stock worth $576,000 after purchasing an additional 70,214 shares during the period. Commonwealth Equity Services LLC purchased a new position in U.S. Gold in the 4th quarter worth approximately $190,000. Cubist Systematic Strategies LLC bought a new stake in U.S. Gold in the fourth quarter valued at approximately $182,000. Finally, Jane Street Group LLC purchased a new stake in shares of U.S. Gold during the third quarter valued at approximately $118,000. 6.64% of the stock is owned by institutional investors.

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.