Investors Buy Large Volume of Hyperliquid Strategies Call Options (NASDAQ:PURR)

Hyperliquid Strategies Inc (NASDAQ:PURR) was the recipient of unusually large options trading on Tuesday. Traders purchased 6,372 call options on the stock. This represents an increase of approximately 52% compared to the average volume of 4,192 call options.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wall Street Zen upgraded Hyperliquid Strategies to a “hold” rating in a research report on Saturday, February 21st. Weiss Ratings assumed coverage on Hyperliquid Strategies in a research report on Monday, March 2nd. They set a “sell (e)” rating on the stock. Cantor Fitzgerald increased their target price on Hyperliquid Strategies from $6.00 to $8.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Maxim Group initiated coverage on Hyperliquid Strategies in a research report on Friday, April 24th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, Chardan Capital increased their price objective on Hyperliquid Strategies from $8.15 to $8.45 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Hyperliquid Strategies has an average rating of “Moderate Buy” and a consensus target price of $8.82.

Institutional Trading of Hyperliquid Strategies

A number of hedge funds have recently made changes to their positions in the stock. Aristeia Capital L.L.C. purchased a new position in Hyperliquid Strategies in the 4th quarter worth approximately $615,000. Corient Private Wealth LLC purchased a new position in Hyperliquid Strategies in the 4th quarter worth approximately $178,000. Ikarian Capital LLC purchased a new position in Hyperliquid Strategies in the 4th quarter worth approximately $107,000. Bank of America Corp DE raised its holdings in Hyperliquid Strategies by 896.4% in the 1st quarter. Bank of America Corp DE now owns 238,080 shares of the company’s stock worth $1,212,000 after acquiring an additional 214,187 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Hyperliquid Strategies in the 1st quarter worth approximately $142,000. 9.45% of the stock is owned by institutional investors.

Hyperliquid Strategies Stock Performance

NASDAQ PURR traded up $0.45 during trading hours on Tuesday, reaching $7.38. 11,825,610 shares of the stock traded hands, compared to its average volume of 5,039,121. The firm has a market cap of $993.91 million, a P/E ratio of -1.00 and a beta of 1.44. Hyperliquid Strategies has a 1 year low of $3.01 and a 1 year high of $7.80. The firm has a 50 day moving average price of $5.83.

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.