U.S. Gold (NASDAQ:USAU) Shares Cross Above 200-Day Moving Average - Here's What Happened

U.S. Gold Corp. (NASDAQ:USAU - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $8.44 and traded as high as $10.92. U.S. Gold shares last traded at $10.78, with a volume of 227,207 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on USAU shares. HC Wainwright reiterated a "buy" rating and set a $15.00 target price (up from $14.00) on shares of U.S. Gold in a research report on Friday, May 23rd. Roth Capital restated a "buy" rating on shares of U.S. Gold in a report on Tuesday, May 6th.

U.S. Gold Trading Up 3.9%

The stock has a market capitalization of $145.59 million, a P/E ratio of -11.47 and a beta of 1.51. The stock's fifty day moving average price is $10.01 and its two-hundred day moving average price is $8.55.

U.S. Gold (NASDAQ:USAU - Get Free Report) last announced its quarterly earnings data on Monday, March 17th. The technology company reported ($0.43) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.27). As a group, analysts expect that U.S. Gold Corp. will post -0.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in shares of U.S. Gold by 5,775.8% in the third quarter. JPMorgan Chase & Co. now owns 7,286 shares of the technology company's stock worth $42,000 after buying an additional 7,162 shares during the period. Bogart Wealth LLC purchased a new position in shares of U.S. Gold in the first quarter worth $46,000. Squarepoint Ops LLC purchased a new position in shares of U.S. Gold in the fourth quarter worth $69,000. Occudo Quantitative Strategies LP purchased a new position in shares of U.S. Gold in the fourth quarter worth $73,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of U.S. Gold in the fourth quarter worth $104,000. 6.64% of the stock is owned by hedge funds and other 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.