U.S. Gold Corp. (NASDAQ:USAU) Sees Large Increase in Short Interest

Posted by Denise Davis on Jun 29th, 2024

U.S. Gold Corp. (NASDAQ:USAU – Get Free Report) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 112,000 shares, a growth of 63.0% from the May 31st total of 68,700 shares. Based on an average daily trading volume, of 134,400 shares, the short-interest ratio is presently 0.8 days.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and issued a $11.00 price objective on shares of U.S. Gold in a report on Monday, June 3rd.

Read Our Latest Report on U.S. Gold

Institutional Trading of U.S. Gold

An institutional investor recently bought a new position in U.S. Gold stock. National Bank of Canada FI bought a new stake in shares of U.S. Gold Corp. (NASDAQ:USAU – Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 21,266 shares of the technology company’s stock, valued at approximately $90,000. National Bank of Canada FI owned about 0.23% of U.S. Gold as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 6.64% of the company’s stock.

U.S. Gold Price Performance

USAU traded up $0.10 on Friday, hitting $5.17. The company had a trading volume of 70,261 shares, compared to its average volume of 124,435. U.S. Gold has a 52-week low of $2.92 and a 52-week high of $7.06. The stock has a fifty day simple moving average of $5.21 and a 200-day simple moving average of $4.29. The firm has a market capitalization of $48.24 million, a P/E ratio of -7.08 and a beta of 1.38.

U.S. Gold Company Profile

(Get Free Report)

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.