U.S. Gold Corp. (NASDAQ:USAU) Sees Large Increase in Short Interest

U.S. Gold Corp. (NASDAQ:USAU) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 202,400 shares, a growth of 44.9% from the February 28th total of 139,700 shares. Approximately 1.8% of the company’s shares are sold short. Based on an average trading volume of 227,600 shares, the short-interest ratio is currently 0.9 days.

Institutional Trading of U.S. Gold

Institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its stake in shares of U.S. Gold by 296.4% during the fourth quarter. Renaissance Technologies LLC now owns 93,900 shares of the technology company’s stock worth $576,000 after purchasing an additional 70,214 shares in the last quarter. Commonwealth Equity Services LLC purchased a new stake in shares of U.S. Gold during the 4th quarter valued at about $190,000. Cubist Systematic Strategies LLC acquired a new position in U.S. Gold during the 4th quarter worth approximately $182,000. Jane Street Group LLC purchased a new position in U.S. Gold in the 3rd quarter worth approximately $118,000. Finally, Walleye Capital LLC acquired a new stake in U.S. Gold in the fourth quarter valued at approximately $114,000. 6.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

USAU has been the subject of several research analyst reports. Roth Capital raised shares of 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 set a “buy” rating and a $10.00 price objective for the company.

U.S. Gold Stock Performance

Shares of NASDAQ:USAU opened at $9.44 on Friday. The stock has a 50-day simple moving average of $8.66 and a 200-day simple moving average of $7.24. The stock has a market capitalization of $117.87 million, a P/E ratio of -9.44 and a beta of 1.48. U.S. Gold has a 1 year low of $3.77 and a 1 year high of $11.75.

U.S. Gold (NASDAQ:USAU) last released its quarterly earnings data on Monday, March 17th. The technology company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.27). Analysts predict that U.S. Gold will post -0.95 earnings per share for the current year.

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.