Hyperliquid Strategies (NASDAQ:PURR) Given Buy Rating at Chardan Capital

Hyperliquid Strategies (NASDAQ:PURR)‘s stock had its “buy” rating reissued by Chardan Capital in a report issued on Friday,Benzinga reports. They currently have a $9.75 target price on the stock. Chardan Capital’s target price indicates a potential upside of 11.29% from the company’s current price.

PURR has been the topic of several other reports. Maxim Group assumed coverage on shares of Hyperliquid Strategies in a report on Friday, April 24th. They issued a “buy” rating and a $10.00 price objective on the stock. Wall Street Zen upgraded shares of Hyperliquid Strategies to a “hold” rating in a report on Saturday, February 21st. Weiss Ratings upgraded shares of Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 3rd. Finally, Cantor Fitzgerald upped their price objective on shares of Hyperliquid Strategies from $6.00 to $8.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Hyperliquid Strategies has an average rating of “Moderate Buy” and a consensus target price of $9.25.

Hyperliquid Strategies Stock Up 3.2%

NASDAQ PURR traded up $0.27 during trading hours on Friday, hitting $8.76. 5,154,382 shares of the company’s stock traded hands, compared to its average volume of 7,552,934. Hyperliquid Strategies has a 52-week low of $3.01 and a 52-week high of $11.62. The company has a market cap of $1.27 billion, a P/E ratio of -1.19 and a beta of 1.64. The company’s 50-day moving average is $7.07.

Hyperliquid Strategies (NASDAQ:PURR) last announced its quarterly earnings data on Thursday, May 7th. The company reported $1.01 earnings per share (EPS) for the quarter. The business had revenue of $2.63 million for the quarter. On average, equities research analysts predict that Hyperliquid Strategies will post -0.75 EPS for the current year.

Institutional Investors Weigh In On Hyperliquid Strategies

Institutional investors have recently modified their holdings of the company. OLP CAPITAL MANAGEMENT Ltd purchased a new position in Hyperliquid Strategies in the first quarter valued at approximately $10,459,000. Bank of America Corp DE raised its holdings in Hyperliquid Strategies by 896.4% during the first quarter. Bank of America Corp DE now owns 238,080 shares of the company’s stock worth $1,212,000 after purchasing an additional 214,187 shares in the last quarter. Maplelane Capital LLC acquired a new stake in Hyperliquid Strategies during the first quarter worth approximately $2,927,000. Galaxy Digital Inc. acquired a new stake in Hyperliquid Strategies during the first quarter worth approximately $4,581,000. Finally, Bank of Nova Scotia acquired a new stake in Hyperliquid Strategies during the first quarter worth approximately $204,000. 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.