i-80 Gold (NYSE:IAUX) Stock Price Down 6.4% - Time to Sell?

Key Points

• i-80 Gold Corp. stock has declined by 6.4%, trading as low as $0.96 after previously closing at $1.03, with a significant drop in trading volume (45% decrease).
• The company has a market cap of $754.27 million, with a negative P/E ratio of -2.65 and growing institutional interest as 61.31% of the stock is owned by hedge funds and institutional investors.
• Recent increases in holdings from several institutional investors, including Clear Harbor Asset Management and McAdam LLC, indicate growing confidence in i-80 Gold despite current stock performance.

i-80 Gold Corp. (NYSE:IAUX - )'s share price was down 6.4% on Thursday . The stock traded as low as $0.97 and last traded at $0.96. Approximately 3,316,466 shares changed hands during trading, a decline of 45% from the average daily volume of 5,982,905 shares. The stock had previously closed at $1.03.

i-80 Gold Stock Down 7.3%

The stock has a market cap of $754.27 million, a P/E ratio of -2.65 and a beta of 1.25. The company's 50 day moving average price is $0.81 and its two-hundred day moving average price is $0.67. The company has a quick ratio of 0.22, a current ratio of 0.33 and a debt-to-equity ratio of 0.19.

Hedge Funds Weigh In On i-80 Gold

Several institutional investors have recently bought and sold shares of the business. Clear Harbor Asset Management LLC increased its holdings in i-80 Gold by 48.5% during the second quarter. Clear Harbor Asset Management LLC now owns 53,655 shares of the company's stock valued at $32,000 after buying an additional 17,533 shares during the period. Kohmann Bosshard Financial Services LLC increased its holdings in i-80 Gold by 27.7% during the second quarter. Kohmann Bosshard Financial Services LLC now owns 83,000 shares of the company's stock valued at $50,000 after buying an additional 18,000 shares during the period. Rhumbline Advisers increased its holdings in i-80 Gold by 5.7% during the first quarter. Rhumbline Advisers now owns 393,756 shares of the company's stock valued at $229,000 after buying an additional 21,182 shares during the period. McAdam LLC increased its holdings in i-80 Gold by 81.8% during the second quarter. McAdam LLC now owns 53,422 shares of the company's stock valued at $32,000 after buying an additional 24,040 shares during the period. Finally, Stonebrook Private Inc. grew its holdings in i-80 Gold by 80.3% in the second quarter. Stonebrook Private Inc. now owns 61,737 shares of the company's stock worth $37,000 after purchasing an additional 27,502 shares during the last quarter. 61.31% of the stock is owned by hedge funds and other institutional investors.

About i-80 Gold

i-80 Gold Corp. is a mining company, engages in the exploration, development and production of gold and silver mineral deposits principally in the United States. i-80 Gold Corp. is based in Reno, Nevada.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.