U.S. Gold (NASDAQ:USAU) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

U.S. Gold Corp. (NASDAQ:USAU - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.16 and traded as high as $10.55. U.S. Gold shares last traded at $10.43, with a volume of 430,961 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Roth Capital reaffirmed a "buy" rating on shares of U.S. Gold in a report on Tuesday, May 6th.

U.S. Gold Trading Down 0.3%

The business has a 50-day moving average price of $9.83 and a 200-day moving average price of $8.28. The stock has a market cap of $136.45 million, a PE ratio of -10.75 and a beta of 1.51.

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

Hedge Funds Weigh In On U.S. Gold

Hedge funds have recently made changes to their positions in the company. Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of U.S. Gold during the first quarter worth approximately $2,163,000. Renaissance Technologies LLC boosted its stake in U.S. Gold by 296.4% during the 4th 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 during the last quarter. Commonwealth Equity Services LLC purchased a new stake in shares of U.S. Gold during the fourth quarter worth $190,000. Cubist Systematic Strategies LLC purchased a new stake in shares of U.S. Gold during the fourth quarter worth $182,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of U.S. Gold by 41.2% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 24,000 shares of the technology company's stock valued at $218,000 after buying an additional 7,000 shares during the last quarter. Institutional investors and hedge funds own 6.64% of the company's stock.

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.