US Gold (NASDAQ:USAU) Shares Break Below 200 Day Moving Average – Here’s Why

US Gold Corp (NASDAQ:USAU) crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $15.36 and traded as low as $14.00. US Gold shares last traded at $14.30, with a volume of 100,187 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have commented on USAU shares. Wall Street Zen cut shares of US Gold from a “sell” rating to a “strong sell” rating in a report on Saturday, July 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of US Gold in a research report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $26.75.

US Gold Price Performance

The firm’s 50-day moving average price is $15.26 and its 200-day moving average price is $15.36. The stock has a market cap of $229.60 million, a P/E ratio of -10.94 and a beta of 1.00.

US Gold (NASDAQ:USAU) last issued its quarterly earnings data on Friday, September 11th. The technology company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.14. Sell-side analysts expect that US Gold Corp will post -1.07 earnings per share for the current year.

Hedge Funds Weigh In On US Gold

A number of hedge funds have recently added to or reduced their stakes in the stock. Up Capital Management Inc. purchased a new position in US Gold during the fourth quarter valued at $5,157,000. William Mack & Associates Inc. purchased a new stake in shares of US Gold during the second quarter worth about $1,380,000. NewGen Asset Management Ltd acquired a new position in shares of US Gold during the 4th quarter worth about $1,553,000. Los Angeles Capital Management LLC acquired a new position in shares of US Gold during the 4th quarter worth about $1,371,000. Finally, Renaissance Technologies LLC acquired a new position in shares of US Gold during the 1st quarter worth about $694,000. 6.64% of the stock is currently owned by institutional investors.

About US Gold

U.S. Gold Corp. (NASDAQ: USAU) is a mineral exploration and development company focused on identifying and advancing gold and copper properties in the United States. The company does not operate as a producing mining company; its activities primarily include geological evaluation, drilling, resource exploration, permitting and project development.

The company’s principal asset is the CK Gold Project in southeastern Wyoming, a copper-gold exploration and development property located near Cheyenne.