Austin Gold (NYSE:AUST) Trading Down 2.3% – Here’s What Happened

Shares of Austin Gold Corp. (NYSE:AUST) traded down 2.3% during trading on Thursday . The stock traded as low as $1.27 and last traded at $1.27. 91,785 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 864,580 shares. The stock had previously closed at $1.30.

Austin Gold Stock Performance

The stock has a market cap of $17.39 million, a price-to-earnings ratio of -4.10 and a beta of 0.87. The stock’s 50 day moving average is $1.35 and its two-hundred day moving average is $1.61.

Hedge Funds Weigh In On Austin Gold

An institutional investor recently raised its stake in Austin Gold stock. Peak Financial Management Inc. raised its stake in shares of Austin Gold Corp. (NYSE:AUST) by 40.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,000 shares of the company’s stock after acquiring an additional 8,000 shares during the period. Peak Financial Management Inc. owned approximately 0.20% of Austin Gold worth $41,000 as of its most recent SEC filing. 62.08% of the stock is currently owned by institutional investors and hedge funds.

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.