Short Interest in U.S. Gold Corp. (NASDAQ:USAU) Rises By 383.1%

U.S. Gold Corp. (NASDAQ:USAU) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 34,300 shares, an increase 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 currently 1.0 days.

U.S. Gold Stock Performance

U.S. Gold stock opened at $3.67 on Friday. U.S. Gold has a 12 month low of $2.92 and a 12 month high of $7.48. The company’s fifty day simple moving average is $3.56 and its 200-day simple moving average is $3.54.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and issued a $11.00 target price on shares of U.S. Gold in a report on Friday, March 1st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of USAU. Citadel Advisors LLC purchased a new stake in shares of U.S. Gold during the 3rd quarter worth about $57,000. Renaissance Technologies LLC acquired a new position in U.S. Gold in the fourth quarter worth approximately $72,000. National Bank of Canada FI bought a new position in U.S. Gold during the fourth quarter valued at approximately $90,000. BlackRock Inc. increased its stake in shares of U.S. Gold by 27.9% during the 2nd quarter. BlackRock Inc. now owns 21,663 shares of the technology company’s stock worth $96,000 after purchasing an additional 4,722 shares during the last quarter. Finally, State Street Corp raised its holdings 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 valued at $160,000 after purchasing an additional 9,600 shares in the last quarter. Hedge funds and other institutional investors own 6.64% of the company’s stock.

U.S. Gold Company Profile

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.