Hyperliquid Strategies (NASDAQ:PURR) Trading Up 11.8% – Should You Buy?

Hyperliquid Strategies Inc (NASDAQ:PURR)’s stock price shot up 11.8% during trading on Monday . The company traded as high as $6.16 and last traded at $5.95. 1,465,717 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 3,545,994 shares. The stock had previously closed at $5.32.

Wall Street Analyst Weigh In

PURR has been the topic of several research reports. Chardan Capital upped their price objective on Hyperliquid Strategies from $8.15 to $8.45 and gave the company a “buy” rating in a research note on Thursday, February 12th. Cantor Fitzgerald raised their price objective on Hyperliquid Strategies from $5.00 to $6.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. Wall Street Zen upgraded shares of Hyperliquid Strategies to a “hold” rating in a research note on Saturday, February 21st. Finally, Weiss Ratings started coverage on shares of Hyperliquid Strategies in a report on Monday, March 2nd. They set a “sell (e)” rating on the stock. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.23.

Hyperliquid Strategies Stock Up 2.0%

The firm has a market cap of $750.02 million, a P/E ratio of -0.65 and a beta of 1.58.

Hyperliquid Strategies (NASDAQ:PURR) last announced its quarterly earnings results on Wednesday, February 11th. The company reported ($7.43) earnings per share (EPS) for the quarter. The company had revenue of $0.50 million during the quarter.

Institutional Investors Weigh In On Hyperliquid Strategies

Hedge funds have recently added to or reduced their stakes in the stock. Boothbay Fund Management LLC acquired a new position in shares of Hyperliquid Strategies during the fourth quarter valued at $40,000. XTX Topco Ltd acquired a new stake in shares of Hyperliquid Strategies in the 4th quarter worth about $48,000. Squarepoint Ops LLC bought a new stake in Hyperliquid Strategies in the 4th quarter valued at about $73,000. Millennium Management LLC bought a new stake in Hyperliquid Strategies in the 4th quarter valued at about $87,000. Finally, Ikarian Capital LLC acquired a new position in Hyperliquid Strategies during the 4th quarter valued at about $107,000. 9.45% of the stock is currently owned by institutional investors.

Hyperliquid Strategies Company Profile

Hyperliquid Strategies Inc is a digital asset treasury company whose primary focus is to maximize shareholder value through accumulating HYPE, the native token of Hyperliquid, a high-performance blockchain custom-built to house all of finance. Hyperliquid Strategies Inc, formerly known as Sonnet BioTherapeutics Holdings Inc, is based in NEW YORK.