Hyperliquid Strategies (NASDAQ:PURR) Trading 9.5% Higher – Here’s Why

Hyperliquid Strategies Inc (NASDAQ:PURR) was up 9.5% on Tuesday . The stock traded as high as $11.37 and last traded at $11.6560. 6,409,959 shares traded hands during trading, a decline of 31% from the average session volume of 9,316,256 shares. The stock had previously closed at $10.64.

Analyst Ratings Changes

A number of brokerages have recently commented on PURR. Chardan Capital reiterated a “buy” rating and issued a $9.75 target price on shares of Hyperliquid Strategies in a report on Friday, June 12th. Weiss Ratings upgraded Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 3rd. Finally, Cantor Fitzgerald raised their price target on Hyperliquid Strategies from $8.00 to $18.40 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hyperliquid Strategies has a consensus rating of “Moderate Buy” and an average target price of $12.72.

Hyperliquid Strategies Price Performance

The company has a market cap of $1.67 billion, a price-to-earnings ratio of -1.57 and a beta of 1.71. The business has a 50 day moving average price of $7.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System bought a new stake in Hyperliquid Strategies during the 2nd quarter valued at $107,000. SPX Gestao de Recursos Ltda bought a new position in shares of Hyperliquid Strategies during the 2nd quarter worth $860,000. Wellington Management Group LLP bought a new position in shares of Hyperliquid Strategies during the 2nd quarter worth $716,000. Paradigm Operations LP purchased a new position in shares of Hyperliquid Strategies during the second quarter valued at $44,936,535,000. Finally, Bank of America Corp DE bought a new stake in shares of Hyperliquid Strategies in the second quarter valued at about $5,001,000. 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.