Hyperliquid Strategies (NASDAQ:PURR) Trading Up 7% – Time to Buy?

Hyperliquid Strategies Inc (NASDAQ:PURR)’s share price rose 7% during mid-day trading on Thursday . The company traded as high as $6.50 and last traded at $6.4970. Approximately 972,266 shares changed hands during trading, a decline of 79% from the average daily volume of 4,666,330 shares. The stock had previously closed at $6.07.

Wall Street Analysts Forecast Growth

PURR has been the topic of a number of recent analyst reports. Maxim Group initiated coverage on shares of Hyperliquid Strategies in a research note on Friday, April 24th. They set a “buy” rating and a $10.00 price target on the stock. Cantor Fitzgerald increased their price objective on shares of Hyperliquid Strategies from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Monday. Wall Street Zen upgraded shares of Hyperliquid Strategies to a “hold” rating in a research note on Saturday, February 21st. Weiss Ratings began coverage on shares of Hyperliquid Strategies in a research note on Monday, March 2nd. They issued a “sell (e)” rating on the stock. Finally, Chardan Capital raised their price target on shares of Hyperliquid Strategies from $8.15 to $8.45 and gave the company a “buy” rating in a research report on Thursday, February 12th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $8.82.

Hyperliquid Strategies Trading Up 19.7%

The stock has a market cap of $977.75 million, a P/E ratio of -0.98 and a beta of 1.44. The business’s 50-day simple moving average is $5.70.

Hyperliquid Strategies (NASDAQ:PURR) last posted its quarterly earnings data on Wednesday, February 11th. The company reported ($7.43) earnings per share (EPS) for the quarter. The business had revenue of $0.50 million for the quarter. On average, sell-side analysts forecast that Hyperliquid Strategies Inc will post -1.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Hyperliquid Strategies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Paradigm Operations LP purchased a new stake in Hyperliquid Strategies during the 4th quarter valued at about $20,327,000. Galaxy Group Investments LLC purchased a new stake in Hyperliquid Strategies during the 4th quarter valued at about $15,167,000. Pantera Capital Partners LP purchased a new stake in Hyperliquid Strategies during the 4th quarter valued at about $14,545,000. Feynman Point Asset Management LLC purchased a new position in Hyperliquid Strategies during the fourth quarter worth about $14,431,000. Finally, 683 Capital Management LLC purchased a new position in Hyperliquid Strategies during the fourth quarter worth about $5,660,000. Hedge funds and other institutional investors own 9.45% of the company’s stock.

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.