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

U.S. Gold Corp. (NASDAQ:USAU) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 34,300 shares, a growth of 383.1% from the February 29th total of 7,100 shares. Based on an average trading volume of 33,900 shares, the short-interest ratio is presently 1.0 days.

U.S. Gold Stock Performance

Shares of U.S. Gold stock opened at $3.61 on Thursday. The stock’s fifty day moving average price is $3.57 and its 200-day moving average price is $3.54. U.S. Gold has a 12 month low of $2.92 and a 12 month high of $7.48.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC purchased a new stake in shares of U.S. Gold in the 3rd quarter worth approximately $57,000. Renaissance Technologies LLC bought a new stake in U.S. Gold during the 4th quarter valued at $72,000. National Bank of Canada FI purchased a new position in shares of U.S. Gold in the 4th quarter valued at $90,000. BlackRock Inc. increased its holdings in shares of U.S. Gold by 27.9% in the 2nd quarter. BlackRock Inc. now owns 21,663 shares of the technology company’s stock valued at $96,000 after acquiring an additional 4,722 shares during the period. Finally, State Street Corp lifted its stake in shares of U.S. Gold by 72.2% during the 1st quarter. State Street Corp now owns 22,900 shares of the technology company’s stock worth $160,000 after purchasing an additional 9,600 shares during the last quarter. Hedge funds and other institutional investors own 6.64% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $11.00 price objective on shares of U.S. Gold in a research note on Friday, March 1st.

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.