US Gold (NASDAQ:USAU) Stock Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• US Gold Corp's stock (NASDAQ:USAU) rose above its 200-day moving average, currently at $10.22, and traded as high as $11.27 during recent trading.
• Analysts from HC Wainwright and Roth Capital both reaffirmed a "buy" rating" on US Gold, with price targets of $15.00 and $19.00, respectively.
• US Gold reported a loss of ($0.25) earnings per share for the last quarter, missing the consensus estimate, and is forecasted to post -0.95 earnings per share for the current fiscal year.

US Gold Corp (NASDAQ:USAU - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.22 and traded as high as $11.27. US Gold shares last traded at $11.25, with a volume of 290,706 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. HC Wainwright reissued a "buy" rating and set a $15.00 target price on shares of US Gold in a research note on Wednesday, June 25th. Roth Capital reissued a "buy" rating and set a $19.00 price objective (up previously from $18.00) on shares of US Gold in a research report on Monday.

US Gold Stock Performance

The company has a 50-day simple moving average of $12.14 and a two-hundred day simple moving average of $10.30. The stock has a market cap of $168.64 million, a price-to-earnings ratio of -6.75 and a beta of 1.27.

US Gold (NASDAQ:USAU - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The technology company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.10). As a group, sell-side analysts predict that US Gold Corp will post -0.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On US Gold

Several hedge funds have recently bought and sold shares of the company. Philadelphia Financial Management of San Francisco LLC bought a new stake in US Gold in the first quarter valued at approximately $2,163,000. Geode Capital Management LLC increased its holdings in shares of US Gold by 109.6% in the second quarter. Geode Capital Management LLC now owns 251,330 shares of the technology company's stock valued at $3,067,000 after purchasing an additional 131,394 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of US Gold by 296.4% in the fourth quarter. Renaissance Technologies LLC now owns 93,900 shares of the technology company's stock valued at $576,000 after purchasing an additional 70,214 shares during the period. Commonwealth Equity Services LLC acquired a new stake in shares of US Gold during the 4th quarter worth about $190,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of US Gold during the 4th quarter worth about $182,000. 6.64% of the stock is currently owned by institutional investors and hedge funds.

US 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.