US Gold (NASDAQ:USAU) Stock Passes Below 200 Day Moving Average – Here’s Why

US Gold Corp (NASDAQ:USAU) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $17.26 and traded as low as $15.23. US Gold shares last traded at $15.36, with a volume of 153,084 shares changing hands.

Analyst Upgrades and Downgrades

USAU has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of US Gold in a report on Monday, April 20th. HC Wainwright reaffirmed a “buy” rating and set a $27.50 price objective on shares of US Gold in a research report on Thursday, April 2nd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.75.

US Gold Trading Up 2.9%

The firm has a market capitalization of $266.33 million, a PE ratio of -11.13 and a beta of 0.88. The business has a 50 day moving average price of $15.78 and a 200-day moving average price of $17.26.

US Gold (NASDAQ:USAU) last issued its earnings results on Monday, March 16th. The technology company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.22). On average, equities research analysts forecast that US Gold Corp will post -1 earnings per share for the current year.

Hedge Funds Weigh In On US Gold

Several hedge funds have recently bought and sold shares of USAU. Geode Capital Management LLC increased its stake in US Gold by 109.6% in the 2nd quarter. Geode Capital Management LLC now owns 251,330 shares of the technology company’s stock valued at $3,067,000 after purchasing an additional 131,394 shares in the last quarter. New York State Common Retirement Fund purchased a new position in US Gold in the 2nd quarter valued at approximately $94,000. Quantbot Technologies LP purchased a new position in US Gold in the 2nd quarter valued at approximately $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in US Gold in the 2nd quarter valued at approximately $73,000. Finally, Occudo Quantitative Strategies LP increased its stake in US Gold by 4.3% in the 2nd quarter. Occudo Quantitative Strategies LP now owns 33,398 shares of the technology company’s stock valued at $407,000 after purchasing an additional 1,379 shares in the last quarter. 6.64% of the stock is owned by hedge funds and other institutional investors.

US Gold Company Profile

US Gold Corporation (NASDAQ: USAU) is a U.S.-based mineral exploration and development company focused on advancing gold and copper projects in key mining jurisdictions across the United States. The company’s flagship asset is the Copper King project in Park County, Wyoming, where US Gold holds more than 10,000 contiguous acres in the historic Sweetwater Mining District. Copper King is a bulk-tonnage, porphyry-style copper-gold property for which the company has completed multiple drilling campaigns, metallurgical testing and a preliminary economic assessment.

In addition to Copper King, US Gold controls the Keystone project on the northern Black Hills Gold Trend in South Dakota.