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

U.S. Gold Corp. (NASDAQ:USAU - Get Free Report) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.09 and traded as low as $5.94. U.S. Gold shares last traded at $5.97, with a volume of 134,144 shares changing hands.

Wall Street Analysts Forecast Growth

USAU has been the topic of several research analyst reports. Roth Capital raised U.S. Gold to a "strong-buy" rating in a research report on Wednesday, December 18th. Roth Mkm initiated coverage on shares of U.S. Gold in a research note on Wednesday, December 18th. They issued a "buy" rating and a $10.00 price target on the stock. Finally, HC Wainwright boosted their price objective on shares of U.S. Gold from $11.00 to $13.00 and gave the company a "buy" rating in a research report on Wednesday, November 20th.

U.S. Gold Stock Performance

The company has a fifty day simple moving average of $6.88 and a two-hundred day simple moving average of $6.09. The firm has a market capitalization of $73.69 million, a PE ratio of -7.20 and a beta of 1.54.

U.S. Gold (NASDAQ:USAU - Get Free Report) last released its quarterly earnings data on Monday, December 16th. The technology company reported ($0.20) earnings per share for the quarter. On average, equities analysts anticipate that U.S. Gold Corp. will post -1.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On U.S. Gold

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC purchased a new stake in U.S. Gold during the third quarter worth $118,000. Quadrature Capital Ltd bought a new position in shares of U.S. Gold in the 3rd quarter worth $59,000. JPMorgan Chase & Co. lifted its stake in shares of U.S. Gold by 5,775.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,286 shares of the technology company's stock worth $42,000 after purchasing an additional 7,162 shares during the last quarter. Geode Capital Management LLC boosted its position in 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 in the last quarter. Finally, Prospera Financial Services Inc grew 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 purchasing an additional 2,000 shares during the last quarter. 6.64% of the stock is currently owned by institutional investors.

About U.S. Gold

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.