Hyperliquid Strategies (NASDAQ:PURR) Posts Quarterly Earnings Results, Beats Estimates By $0.44 EPS

Hyperliquid Strategies (NASDAQ:PURR) announced its earnings results on Thursday. The company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.44, Zacks reports.

Here are the key takeaways from Hyperliquid Strategies’ conference call:

• Net asset value rose about 82% to $3.4 billion during the quarter, while the company reported $621 million in net income. Management attributed most of the gain to HYPE token appreciation and treasury purchases; its shares were up about 215% since beginning trading.
• Hyperliquid reported more than $5 trillion in cumulative trading volume and 330,000 monthly unique wallets, and management highlighted its leading position in perpetual DEX volume and open interest. Executives pointed to potential growth from real-world asset markets and U.S. distribution, while acknowledging the user base remains small compared with major centralized platforms.
• Management said Hyperliquid generated $834 million in value over the 12 months ended September 30, with about 99% of fees directed to token buybacks; it also cited a new USDC-related revenue arrangement that it expects to support buybacks. The company said $1.4 billion has been used for buybacks since inception.
• The company is applying to establish a U.S. futures commission merchant (FCM), positioning it as a potential neutral intermediary for Hyperliquid customers. Approval and launch timing are uncertain—the process is early, with management estimating a possible three-to-six-month timeframe—and the build-out could cost a single-digit number of millions of dollars.
• Quarterly results depended heavily on unrealized gains from HYPE’s price increase, which could reverse if the token declines. The company recorded a $172 million tax provision and a corresponding deferred tax liability, though management said the taxes generally become payable only if HYPE tokens are sold.

Hyperliquid Strategies Trading Down 9.5%

NASDAQ:PURR traded down $0.92 during trading hours on Thursday, hitting $8.77. 28,182,275 shares of the stock were exchanged, compared to its average volume of 12,186,215. Hyperliquid Strategies has a 52-week low of $3.01 and a 52-week high of $14.76. The firm’s fifty day moving average price is $11.30 and its 200 day moving average price is $8.02. The company has a market cap of $2.44 billion, a P/E ratio of -1.37 and a beta of 1.92.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PURR. Cantor Fitzgerald boosted their price target on shares of Hyperliquid Strategies from $22.60 to $34.20 and gave the stock an “overweight” rating in a report on Thursday, September 10th. Wall Street Zen cut shares of Hyperliquid Strategies from a “hold” rating to a “sell” rating in a research report on Sunday, October 11th. Compass Point assumed coverage on shares of Hyperliquid Strategies in a report on Monday, September 14th. They set a “buy” rating and a $18.00 price objective on the stock. Chardan Capital increased their price objective on shares of Hyperliquid Strategies from $9.75 to $17.00 and gave the company a “buy” rating in a report on Friday, August 28th. Finally, Weiss Ratings lowered shares of Hyperliquid Strategies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $19.80.

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.