U.S. Gold Corp. (NASDAQ:USAU) Sees Significant Decline in Short Interest

U.S. Gold Corp. (NASDAQ:USAU) saw a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 5,900 shares, a decline of 68.6% from the December 15th total of 18,800 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 32,300 shares, the days-to-cover ratio is currently 0.2 days.

USAU has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $16.00 price target (up previously from $15.50) on shares of U.S. Gold in a research note on Friday, December 3rd. Zacks Investment Research upgraded shares of U.S. Gold from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Tuesday, December 28th. Finally, Alliance Global Partners lifted their price target on shares of U.S. Gold from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, December 2nd.

Large investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of U.S. Gold by 31.6% during the 2nd quarter. Geode Capital Management LLC now owns 51,524 shares of the technology company’s stock worth $572,000 after buying an additional 12,371 shares during the last quarter. LPL Financial LLC lifted its position in shares of U.S. Gold by 19.2% during the 3rd quarter. LPL Financial LLC now owns 60,956 shares of the technology company’s stock worth $621,000 after buying an additional 9,799 shares during the last quarter. BlackRock Inc. raised its position in U.S. Gold by 70.6% in the 3rd quarter. BlackRock Inc. now owns 16,664 shares of the technology company’s stock valued at $169,000 after purchasing an additional 6,895 shares during the last quarter. Finally, Advisor Group Holdings Inc. raised its position in U.S. Gold by 2,572.8% in the 3rd quarter. Advisor Group Holdings Inc. now owns 7,751 shares of the technology company’s stock valued at $79,000 after purchasing an additional 7,461 shares during the last quarter. Institutional investors and hedge funds own 6.53% of the company’s stock.

Shares of NASDAQ:USAU opened at $7.94 on Friday. The company has a market capitalization of $56.35 million, a PE ratio of -4.41 and a beta of 1.63. U.S. Gold has a twelve month low of $7.70 and a twelve month high of $13.92. The firm has a 50 day simple moving average of $9.44 and a 200-day simple moving average of $9.88.

About U.S. Gold

U.S. Gold Corp. is an U.S. focused gold exploration company. The company has a portfolio of exploration properties. Copper King, now the CK Gold Project, is located in Southeast Wyoming and has a Preliminary Economic Assessment (PEA) technical report, which was completed by Mine Development Associates.

See Also: Are FAANG stocks a good investment?

Receive News & Ratings for U.S. Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Gold and related companies with MarketBeat.com's FREE daily email newsletter.