U.S. Energy (NASDAQ:USEG) Stock Price Crosses Above 200 Day Moving Average - Here's Why

U.S. Energy Corp. (NASDAQ:USEG - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.54 and traded as high as $2.15. U.S. Energy shares last traded at $2.14, with a volume of 780,273 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. D. Boral Capital reissued a "buy" rating and issued a $3.50 price objective on shares of U.S. Energy in a report on Friday, January 24th. StockNews.com initiated coverage on shares of U.S. Energy in a research note on Wednesday, February 12th. They set a "hold" rating on the stock.

U.S. Energy Trading Down 4.9 %

The company has a market cap of $68.56 million, a P/E ratio of -1.48 and a beta of 0.71. The business's 50 day simple moving average is $2.05 and its 200 day simple moving average is $1.55.

Institutional Investors Weigh In On U.S. Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of U.S. Energy by 27.1% during the fourth quarter. Geode Capital Management LLC now owns 111,528 shares of the energy company's stock valued at $182,000 after buying an additional 23,756 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of U.S. Energy by 24.6% during the fourth quarter. Renaissance Technologies LLC now owns 62,900 shares of the energy company's stock valued at $103,000 after buying an additional 12,400 shares during the last quarter. Finally, Scissortail Wealth Management LLC bought a new stake in shares of U.S. Energy during the fourth quarter valued at approximately $73,000. Institutional investors own 3.00% of the company's stock.

About U.S. Energy

U.S. Energy Corp., an independent energy company, focuses on the acquisition, exploration, and development of oil and natural gas properties in the United States. It holds interests in various oil and gas properties located in the Rockies region, including Montana, Wyoming, and North Dakota; the Mid-Continent region comprising Oklahoma, Kansas, and North and East Texas; West Texas; South Texas; and the Gulf Coast regions.