Hyperliquid Strategies (NASDAQ:PURR) Shares Up 7.9% – Time to Buy?

Hyperliquid Strategies Inc (NASDAQ:PURR) traded up 7.9% on Friday . The stock traded as high as $8.64 and last traded at $8.6550. 6,759,673 shares changed hands during trading, a decline of 18% from the average daily volume of 8,277,943 shares. The stock had previously closed at $8.02.

Wall Street Analyst Weigh In

PURR has been the topic of a number of research analyst reports. Maxim Group began coverage on shares of Hyperliquid Strategies in a research report on Friday, April 24th. They set a “buy” rating and a $10.00 price objective on the stock. Weiss Ratings raised Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 3rd. Chardan Capital reaffirmed a “buy” rating and set a $9.75 price target on shares of Hyperliquid Strategies in a research note on Friday, June 12th. Finally, Cantor Fitzgerald increased their price target on Hyperliquid Strategies from $6.00 to $8.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.25.

Hyperliquid Strategies Stock Performance

The firm has a 50-day moving average of $7.81. The stock has a market capitalization of $1.26 billion, a PE ratio of -1.19 and a beta of 1.64.

Hyperliquid Strategies (NASDAQ:PURR) last released its earnings results on Thursday, May 7th. The company reported $1.01 earnings per share (EPS) for the quarter. The business had revenue of $2.63 million during the quarter. On average, research analysts predict that Hyperliquid Strategies Inc will post 2.1 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Paradigm Operations LP bought a new stake in shares of Hyperliquid Strategies during the fourth quarter valued at about $20,327,000. Militia Capital Partners LP purchased a new stake in Hyperliquid Strategies in the 4th quarter worth approximately $1,784,000. Arrington Capital Management LLC purchased a new stake in Hyperliquid Strategies in the 4th quarter worth approximately $4,557,000. 683 Capital Management LLC bought a new position in Hyperliquid Strategies in the 4th quarter valued at $5,660,000. Finally, Squarepoint Ops LLC bought a new position in Hyperliquid Strategies in the 4th quarter valued at $73,000. Hedge funds and other institutional investors own 9.45% of the company’s stock.

About Hyperliquid Strategies

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.