Short Interest in U.S. Gold Corp. (NASDAQ:USAU) Decreases By 46.0%

U.S. Gold Corp. (NASDAQ:USAU) saw a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 55,700 shares, a decline of 46.0% from the November 30th total of 103,200 shares. Based on an average trading volume of 142,900 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of USAU. Geode Capital Management LLC grew its holdings in shares of U.S. Gold by 3.7% during the third quarter. Geode Capital Management LLC now owns 105,496 shares of the technology company’s stock valued at $613,000 after buying an additional 3,778 shares during the last quarter. Prospera Financial Services Inc boosted its stake in U.S. Gold by 3.8% during the 3rd quarter. Prospera Financial Services Inc now owns 54,500 shares of the technology company’s stock valued at $317,000 after purchasing an additional 2,000 shares during the last quarter. Jane Street Group LLC bought a new stake in U.S. Gold during the 3rd quarter worth approximately $118,000. Quadrature Capital Ltd purchased a new position in shares of U.S. Gold during the third quarter valued at approximately $59,000. Finally, JPMorgan Chase & Co. grew its holdings in U.S. Gold by 5,775.8% during the third quarter. JPMorgan Chase & Co. now owns 7,286 shares of the technology company’s stock worth $42,000 after buying an additional 7,162 shares in the last quarter. Institutional investors and hedge funds own 6.64% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on USAU. HC Wainwright increased their target price on shares of U.S. Gold from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Roth Capital raised shares of U.S. Gold to a “strong-buy” rating in a research note on Wednesday, December 18th. Finally, Roth Mkm began coverage on shares of U.S. Gold in a research report on Wednesday, December 18th. They set a “buy” rating and a $10.00 price target on the stock.

U.S. Gold Stock Performance

U.S. Gold stock opened at $6.74 on Friday. The stock has a market capitalization of $83.06 million, a price-to-earnings ratio of -8.12 and a beta of 1.50. U.S. Gold has a 52-week low of $3.20 and a 52-week high of $8.61. The stock’s 50 day moving average price is $6.88 and its two-hundred day moving average price is $6.05.

U.S. Gold (NASDAQ:USAU) last posted its quarterly earnings results on Monday, December 16th. The technology company reported ($0.20) earnings per share for the quarter. On average, equities research analysts forecast that U.S. Gold will post -1.06 EPS for the current year.

About U.S. Gold

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.