Austin Gold (NYSE:AUST) Shares Down 3% – What’s Next?

Austin Gold Corp. (NYSE:AUST) was down 3% during 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 Price Performance

The company has a market cap of $17.94 million, a PE ratio of -4.23 and a beta of 0.94. The stock’s 50-day moving average is $1.13 and its 200 day moving average is $1.37.

Institutional Trading of Austin Gold

A hedge fund recently raised its stake in Austin Gold stock. Peak Financial Management Inc. lifted its holdings in Austin Gold Corp. (NYSE:AUST) by 40.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,000 shares of the company’s stock after purchasing an additional 8,000 shares during the quarter. Peak Financial Management Inc. owned about 0.20% of Austin Gold worth $41,000 as of its most recent SEC filing. Institutional investors and hedge funds own 62.08% of the company’s stock.

About Austin Gold

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.