News to Watch: U.S. Gold Corp. (NASDAQ:USAU)

U.S. Gold Corp. (NASDAQ:USAU) spotted trading 115.03% off 52-week high price. On the other end, the stock has been noted 1162.47% away from the low price over the last 52-weeks. The stock changed 743.37% to recent value of $3.29. The stock transacted 94449 shares during most recent day however it has an average volume of 105.13K shares. The company has 25.64M of outstanding shares and 20.82M shares were floated in the market.

On March 19,2020, U.S. Gold Corp. (NASDAQ:USAU) notified a 1-for-10 reverse split of its common stock, effective as of 5:00 pm Eastern Time, March 19, 2020.  Beginning on March 20, 2020, the Company’s common stock will trade on the NASDAQ Capital Market on a split adjusted basis.

At the Company’s 2019 annual meeting of stockholders on September 18, 2019, the Company’s stockholders authorized the Board of Directors, in its discretion but prior to September 18, 2020, to amend the Articles of Incorporation of the Company to effect a reverse stock split at a ratio in the range of 1-for-2 to 1-for-10.

Upon effectiveness, the reverse stock split will cause a reduction in the number of shares of common stock outstanding and the numbers of shares of common stock issuable upon the conversion of the Company’s outstanding shares of preferred stock and the exercise of its outstanding stock options and warrants in proportion to the ratio of the reverse stock split and will cause a proportionate increase in the conversion and exercise prices of such preferred stock, stock options and warrants. The number of shares of common stock issuable upon exercise or vesting of outstanding stock options and other equity awards outstanding under the Company’s long-term incentive plan will be rounded down to the nearest whole share and the per share exercise price resulting from any adjustment will be rounded up to the nearest whole cent.

Its earnings per share (EPS) expected to touch remained 38.10% for this year.

According to the most recent quarter its current ratio was 22.5 that represents company’s ability to meet its current financial obligations. The price moved ahead of 459.22% from the mean of 20 days, 353.40% from mean of 50 days SMA and performed 272.70% from mean of 200 days price. Company’s performance for the week was 854.73%, 346.46% for month and YTD performance remained 307.73%.

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