Austin Gold (NYSE:AUST) Stock Price Down 1.6% – Here’s Why

Shares of Austin Gold Corp. (NYSE:AUST) were down 1.6% during mid-day trading on Tuesday . The company traded as low as $1.21 and last traded at $1.22. Approximately 24,545 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 127,589 shares. The stock had previously closed at $1.24.

Austin Gold Trading Down 1.6 %

The stock has a 50-day simple moving average of $2.02 and a 200 day simple moving average of $1.38. The company has a market cap of $16.19 million, a price-to-earnings ratio of -3.94 and a beta of 0.68.

Hedge Funds Weigh In On Austin Gold

An institutional investor recently bought a new position in Austin Gold stock. XTX Topco Ltd acquired a new stake in Austin Gold Corp. (NYSE:AUST) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 21,143 shares of the company’s stock, valued at approximately $25,000. XTX Topco Ltd owned 0.16% of Austin Gold as of its most recent SEC filing. 62.08% of the stock is owned by hedge funds and other institutional investors.

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.