Hyperliquid Strategies (NASDAQ:PURR) Trading 10.5% Higher – Should You Buy?

Hyperliquid Strategies Inc (NASDAQ:PURR) traded up 10.5% during trading on Thursday . The stock traded as high as $8.38 and last traded at $8.3670. 8,880,710 shares changed hands during trading, an increase of 18% from the average session volume of 7,525,764 shares. The stock had previously closed at $7.57.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Weiss Ratings raised shares of Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 3rd. Maxim Group assumed coverage on shares of Hyperliquid Strategies in a research report on Friday, April 24th. They issued a “buy” rating and a $10.00 price target for the company. Cantor Fitzgerald raised their price objective on shares of Hyperliquid Strategies from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Chardan Capital lifted their price objective on shares of Hyperliquid Strategies from $8.45 to $9.75 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Finally, Wall Street Zen raised shares of Hyperliquid Strategies to a “hold” rating in a research note on Saturday, February 21st. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.25.

Hyperliquid Strategies Stock Up 13.4%

The firm has a fifty day simple moving average of $7.00. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -1.15 and a beta of 1.64.

Hyperliquid Strategies (NASDAQ:PURR) last issued its earnings results on Thursday, May 7th. The company reported $1.01 EPS for the quarter. The firm had revenue of $2.63 million during the quarter. On average, equities research analysts expect that Hyperliquid Strategies Inc will post -0.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Hyperliquid Strategies

A number of hedge funds have recently added to or reduced their stakes in PURR. Boothbay Fund Management LLC acquired a new stake in Hyperliquid Strategies in the fourth quarter valued at approximately $40,000. XTX Topco Ltd acquired a new position in shares of Hyperliquid Strategies during the 4th quarter worth $48,000. Private Advisor Group LLC acquired a new position in shares of Hyperliquid Strategies during the 1st quarter worth $83,000. Squarepoint Ops LLC bought a new position in shares of Hyperliquid Strategies during the 4th quarter valued at $73,000. Finally, SG Americas Securities LLC bought a new position in shares of Hyperliquid Strategies during the 1st quarter valued at $117,000. Institutional investors and hedge funds 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.