Short Interest in U.S. Gold Corp. (NASDAQ:USAU) Grows By 54.7%

U.S. Gold Corp. (NASDAQ:USAU) was the target of a large growth in short interest in January. As of January 15th, there was short interest totalling 82,000 shares, a growth of 54.7% from the December 31st total of 53,000 shares. Based on an average daily volume of 155,100 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted 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 valued at $42,000 after purchasing an additional 7,162 shares in the last quarter. Geode Capital Management LLC boosted its position in U.S. Gold by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 105,496 shares of the technology company’s stock valued at $613,000 after acquiring an additional 3,778 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of U.S. Gold during the 3rd quarter worth approximately $118,000. Quadrature Capital Ltd bought a new position in shares of U.S. Gold in the 3rd quarter worth approximately $59,000. Finally, Prospera Financial Services Inc raised its position in shares of U.S. Gold by 3.8% in the 3rd quarter. Prospera Financial Services Inc now owns 54,500 shares of the technology company’s stock worth $317,000 after acquiring an additional 2,000 shares in the last quarter. 6.64% of the stock is currently owned by institutional investors.

U.S. Gold Price Performance

U.S. Gold stock traded up $0.06 during trading hours on Friday, reaching $7.56. The stock had a trading volume of 52,945 shares, compared to its average volume of 123,395. The company has a fifty day simple moving average of $6.98 and a 200-day simple moving average of $6.23. U.S. Gold has a 52 week low of $3.20 and a 52 week high of $8.61. The stock has a market cap of $93.19 million, a PE ratio of -7.54 and a beta of 1.54.

U.S. Gold (NASDAQ:USAU) last released its quarterly earnings results on Monday, December 16th. The technology company reported ($0.20) EPS for the quarter. Research analysts predict that U.S. Gold will post -0.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

USAU has been the subject of several recent research reports. Roth Capital upgraded U.S. Gold to a “strong-buy” rating in a report on Wednesday, December 18th. Roth Mkm initiated coverage on shares of U.S. Gold in a report on Wednesday, December 18th. They issued a “buy” rating and a $10.00 price target for the company. Finally, HC Wainwright lifted their target price 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 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.