Hyperliquid Strategies Inc (NASDAQ:PURR) Short Interest Update

Hyperliquid Strategies Inc (NASDAQ:PURR) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totaling 14,570,470 shares, an increase of 82.9% from the May 31st total of 7,968,381 shares. Approximately 11.0% of the company’s shares are short sold. Based on an average daily volume of 20,808,955 shares, the short-interest ratio is currently 0.7 days.

Analysts Set New Price Targets

Several brokerages have commented on PURR. Chardan Capital restated a “buy” rating and issued a $9.75 price objective on shares of Hyperliquid Strategies in a report on Friday, June 12th. Cantor Fitzgerald lifted their target price on shares of Hyperliquid Strategies from $8.00 to $18.40 and gave the company an “overweight” rating in a research note on Wednesday. Weiss Ratings upgraded shares of Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 3rd. Finally, Maxim Group assumed coverage on shares of Hyperliquid Strategies in a research report on Friday, April 24th. They set a “buy” rating and a $10.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Hyperliquid Strategies currently has an average rating of “Moderate Buy” and an average target price of $12.72.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Militia Capital Management LLC bought a new position in Hyperliquid Strategies during the 1st quarter valued at about $3,323,000. OLP CAPITAL MANAGEMENT Ltd purchased a new stake in shares of Hyperliquid Strategies in the first quarter valued at approximately $10,459,000. Bank of America Corp DE grew its position in shares of Hyperliquid Strategies by 896.4% during the 1st quarter. Bank of America Corp DE now owns 238,080 shares of the company’s stock worth $1,212,000 after buying an additional 214,187 shares in the last quarter. Maplelane Capital LLC bought a new position in Hyperliquid Strategies during the 1st quarter worth about $2,927,000. Finally, Galaxy Digital Inc. bought a new position in shares of Hyperliquid Strategies during the first quarter valued at approximately $4,581,000. Institutional investors own 9.45% of the company’s stock.

Hyperliquid Strategies Stock Down 1.9%

PURR opened at $8.05 on Friday. Hyperliquid Strategies has a 52-week low of $3.01 and a 52-week high of $11.62. The company’s 50-day moving average is $7.97. The company has a market cap of $1.16 billion, a PE ratio of -1.09 and a beta of 1.66.

Hyperliquid Strategies (NASDAQ:PURR) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.01 earnings per share for the quarter. The business had revenue of $2.63 million during the quarter. Research analysts forecast that Hyperliquid Strategies will post 2.1 earnings per share for the current fiscal year.

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.