Hyperliquid Strategies (NASDAQ:PURR) Stock Price Up 8.1% – Should You Buy?

Hyperliquid Strategies Inc (NASDAQ:PURR) shares were up 8.1% during trading on Monday. The stock traded as high as $12.92 and last traded at $12.8560. Approximately 2,930,184 shares changed hands during trading, a decline of 75% from the average session volume of 11,683,351 shares. The stock had previously closed at $11.89.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PURR. Wall Street Zen upgraded shares of Hyperliquid Strategies from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings upgraded shares of Hyperliquid Strategies from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, August 28th. Chardan Capital raised their price objective on Hyperliquid Strategies from $9.75 to $17.00 and gave the company a “buy” rating in a report on Friday, August 28th. Cantor Fitzgerald lifted their target price on Hyperliquid Strategies from $22.60 to $34.20 and gave the company an “overweight” rating in a research report on Thursday, September 10th. Finally, Compass Point started coverage on Hyperliquid Strategies in a report on Monday, September 14th. They set a “buy” rating and a $18.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $19.80.

Hyperliquid Strategies Price Performance

The stock has a market capitalization of $2.97 billion, a P/E ratio of -1.95 and a beta of 1.89. The company’s 50-day simple moving average is $10.45 and its 200-day simple moving average is $8.33.

Institutional Investors Weigh In On Hyperliquid Strategies

Several hedge funds have recently bought and sold shares of PURR. Tidal Investments LLC bought a new position in Hyperliquid Strategies during the second quarter worth about $5,285,000. Engineers Gate Manager LP acquired a new stake in shares of Hyperliquid Strategies in the second quarter valued at approximately $533,000. Baird Financial Group Inc. acquired a new stake in shares of Hyperliquid Strategies in the second quarter valued at approximately $111,000. Amundi bought a new position in shares of Hyperliquid Strategies during the 2nd quarter worth approximately $190,000. Finally, SPX Gestao de Recursos Ltda bought a new position in shares of Hyperliquid Strategies during the 2nd quarter worth approximately $860,000. 9.45% of the stock is currently owned by institutional investors and hedge funds.

About Hyperliquid Strategies