Hyperliquid Strategies (NASDAQ:PURR) Trading Up 16.4% – Time to Buy?

Hyperliquid Strategies Inc (NASDAQ:PURR)’s share price rose 16.4% during mid-day trading on Monday . The stock traded as high as $4.97 and last traded at $4.75. Approximately 2,292,344 shares changed hands during trading, a decline of 22% from the average daily volume of 2,935,492 shares. The stock had previously closed at $4.08.

Analysts Set New Price Targets

PURR has been the topic of several recent analyst reports. Wall Street Zen raised shares of Hyperliquid Strategies to a “hold” rating in a research note on Saturday, February 21st. Weiss Ratings began coverage on Hyperliquid Strategies in a research note on Monday. They set a “sell (e)” rating on the stock. Cantor Fitzgerald lifted their price objective on Hyperliquid Strategies from $5.00 to $6.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. Finally, Chardan Capital increased their target price on Hyperliquid Strategies from $8.15 to $8.45 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Hyperliquid Strategies presently has an average rating of “Hold” and a consensus target price of $7.23.

Hyperliquid Strategies Stock Up 7.3%

The stock has a market cap of $618.61 million, a PE ratio of -0.54 and a beta of 1.58.

Hyperliquid Strategies (NASDAQ:PURR) last posted its earnings results on Wednesday, February 11th. The company reported ($7.43) earnings per share (EPS) for the quarter. The company had revenue of $0.50 million for the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PURR. Boothbay Fund Management LLC purchased a new stake in shares of Hyperliquid Strategies during the 4th quarter valued at about $40,000. XTX Topco Ltd acquired a new stake in Hyperliquid Strategies in the fourth quarter valued at approximately $48,000. Squarepoint Ops LLC purchased a new stake in shares of Hyperliquid Strategies during the fourth quarter valued at approximately $73,000. Millennium Management LLC purchased a new stake in shares of Hyperliquid Strategies during the fourth quarter valued at approximately $87,000. Finally, Ikarian Capital LLC acquired a new position in shares of Hyperliquid Strategies during the fourth quarter worth $107,000. 9.45% of the stock is owned by hedge funds and other institutional investors.

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.