US Gold (NASDAQ:USAU) Stock Price Passes Below Two Hundred Day Moving Average – What’s Next?

US Gold Corp (NASDAQ:USAU)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $17.26 and traded as low as $15.23. US Gold shares last traded at $15.36, with a volume of 153,084 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on USAU shares. Weiss Ratings restated a “sell (d-)” rating on shares of US Gold in a research report on Monday, April 20th. HC Wainwright restated a “buy” rating and set a $27.50 price target on shares of US Gold in a research report on Thursday, April 2nd. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, US Gold presently has a consensus rating of “Hold” and a consensus price target of $26.75.

US Gold Trading Down 4.1%

The company has a market capitalization of $253.44 million, a P/E ratio of -10.59 and a beta of 0.88. The business’s 50-day simple moving average is $15.78 and its 200 day simple moving average is $17.26.

US Gold (NASDAQ:USAU) last released its quarterly earnings results on Monday, March 16th. The technology company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.22). As a group, sell-side analysts predict that US Gold Corp will post -1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of USAU. Geode Capital Management LLC grew its holdings in US Gold by 109.6% during the second quarter. Geode Capital Management LLC now owns 251,330 shares of the technology company’s stock worth $3,067,000 after acquiring an additional 131,394 shares during the period. New York State Common Retirement Fund acquired a new position in US Gold during the second quarter worth about $94,000. Quantbot Technologies LP acquired a new position in US Gold during the second quarter worth about $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in US Gold during the second quarter worth about $73,000. Finally, Occudo Quantitative Strategies LP grew its holdings in US Gold by 4.3% during the second quarter. Occudo Quantitative Strategies LP now owns 33,398 shares of the technology company’s stock worth $407,000 after acquiring an additional 1,379 shares during the period. 6.64% of the stock is owned by institutional investors and hedge funds.

About US Gold

US Gold Corporation (NASDAQ: USAU) is a U.S.-based mineral exploration and development company focused on advancing gold and copper projects in key mining jurisdictions across the United States. The company’s flagship asset is the Copper King project in Park County, Wyoming, where US Gold holds more than 10,000 contiguous acres in the historic Sweetwater Mining District. Copper King is a bulk-tonnage, porphyry-style copper-gold property for which the company has completed multiple drilling campaigns, metallurgical testing and a preliminary economic assessment.

In addition to Copper King, US Gold controls the Keystone project on the northern Black Hills Gold Trend in South Dakota.