U.S. Gold (NASDAQ:USAU) Shares Cross Above 200 Day Moving Average - Here's Why

Shares of U.S. Gold Corp. (NASDAQ:USAU - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.18 and traded as high as $7.42. U.S. Gold shares last traded at $7.34, with a volume of 180,213 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Roth Mkm assumed coverage on shares of U.S. Gold in a report on Wednesday, December 18th. They set a "buy" rating and a $10.00 price target for the company. HC Wainwright lifted their target price on shares of U.S. Gold from $11.00 to $13.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. Finally, Roth Capital raised shares of U.S. Gold to a "strong-buy" rating in a research report on Wednesday, December 18th.

U.S. Gold Trading Up 0.4 %

The firm's 50-day moving average price is $6.99 and its 200 day moving average price is $6.19. The company has a market cap of $90.80 million, a price-to-earnings ratio of -7.37 and a beta of 1.54.

U.S. Gold (NASDAQ:USAU - Get Free Report) last announced its quarterly earnings results 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 fiscal year.

Hedge Funds Weigh In On U.S. Gold

Several hedge funds have recently modified their holdings of USAU. Geode Capital Management LLC boosted its stake in 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 in the last quarter. Prospera Financial Services Inc lifted its position 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 purchasing an additional 2,000 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of U.S. Gold in the third quarter worth about $118,000. Quadrature Capital Ltd purchased a new stake in U.S. Gold in the third quarter worth $59,000. Finally, JPMorgan Chase & Co. raised its holdings in 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 worth $42,000 after buying an additional 7,162 shares during the last quarter. Institutional investors 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.