Hyperliquid Strategies (NASDAQ:PURR) Shares Down 7.4% – Here’s Why

Hyperliquid Strategies Inc (NASDAQ:PURR)’s share price was down 7.4% during trading on Thursday . The company traded as low as $9.07 and last traded at $9.0880. Approximately 8,268,294 shares changed hands during trading, an increase of 4% from the average daily volume of 7,980,958 shares. The stock had previously closed at $9.81.

Analyst Ratings Changes

Several research analysts have issued reports on PURR shares. Chardan Capital reissued a “buy” rating and issued a $9.75 target price on shares of Hyperliquid Strategies in a research report on Friday, June 12th. Wall Street Zen raised shares of Hyperliquid Strategies to a “hold” rating in a research report on Saturday, February 21st. Weiss Ratings upgraded shares of Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 3rd. 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 report on Monday, May 11th. Finally, 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 target price for the company. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Hyperliquid Strategies currently has an average rating of “Moderate Buy” and a consensus price target of $9.25.

Hyperliquid Strategies Stock Down 7.4%

The stock has a market capitalization of $1.31 billion, a P/E ratio of -1.23 and a beta of 1.64. The business has a fifty day moving average of $7.42.

Hyperliquid Strategies (NASDAQ:PURR) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.01 earnings per share for the quarter. The firm had revenue of $2.63 million for the quarter. On average, analysts expect that Hyperliquid Strategies Inc will post 2.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Paradigm Operations LP bought a new stake in Hyperliquid Strategies during the fourth quarter valued at about $20,327,000. Galaxy Group Investments LLC purchased a new stake in shares of Hyperliquid Strategies during the fourth quarter worth about $15,167,000. Pantera Capital Partners LP purchased a new stake in shares of Hyperliquid Strategies during the fourth quarter worth about $14,545,000. Feynman Point Asset Management LLC bought a new stake in Hyperliquid Strategies during the 4th quarter valued at approximately $14,431,000. Finally, OLP CAPITAL MANAGEMENT Ltd bought a new stake in Hyperliquid Strategies during the 1st quarter valued at approximately $10,459,000. 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.