Austin Gold (NYSE:AUST) Stock Price Down 3% – Time to Sell?

Austin Gold Corp. (NYSE:AUST) dropped 3% during mid-day trading on Wednesday . The stock traded as low as $1.29 and last traded at $1.31. Approximately 24,451 shares were traded during trading, a decline of 96% from the average session volume of 645,620 shares. The stock had previously closed at $1.35.

Austin Gold Stock Performance

The firm has a market capitalization of $17.94 million, a PE ratio of -4.23 and a beta of 0.94. The stock has a fifty day moving average price of $1.13 and a 200-day moving average price of $1.37.

Hedge Funds Weigh In On Austin Gold

A hedge fund recently raised its stake in Austin Gold stock. Peak Financial Management Inc. raised its position in shares of Austin Gold Corp. (NYSE:AUST) by 40.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,000 shares of the company’s stock after buying an additional 8,000 shares during the quarter. Peak Financial Management Inc. owned about 0.20% of Austin Gold worth $41,000 at the end of the most recent reporting period. Institutional investors own 62.08% of the company’s stock.

Austin Gold Company Profile

Austin Gold Corp., a gold exploration company, focuses on the acquisition, exploration, and evaluation of mineral property interests in Nevada. The company holds interest in Kelly Creek Project located in the Kelly Creek Basin, in southeastern Humboldt County, Nevada; Fourmile Basin Project that comprises various unpatented lode mining claims covering approximately 6410 acres located in Nye County; the Lone Mountain Project consisting of various unpatented lode mining and patented mining claims located near Lone Mountain in Elko County.