Hyperliquid Strategies (NASDAQ:PURR) Trading 9.5% Higher – Here’s Why

Hyperliquid Strategies Inc (NASDAQ:PURR) traded up 9.5% during trading on Tuesday . The company traded as high as $11.37 and last traded at $11.6560. 6,409,959 shares traded hands during trading, a decline of 31% from the average daily volume of 9,316,256 shares. The stock had previously closed at $10.64.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PURR shares. Cantor Fitzgerald upped their price target on shares of Hyperliquid Strategies from $8.00 to $18.40 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Weiss Ratings raised shares of Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 3rd. Finally, Chardan Capital restated a “buy” rating and set a $9.75 target price on shares of Hyperliquid Strategies in a report on Friday, June 12th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.72.

Hyperliquid Strategies Stock Up 8.6%

The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -1.57 and a beta of 1.71. The business has a fifty day moving average price of $7.67.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Hyperliquid Strategies during the second quarter valued at approximately $79,842,000. Paradigm Operations LP purchased a new position in Hyperliquid Strategies in the fourth quarter worth $20,327,000. Galaxy Group Investments LLC acquired a new position in shares of Hyperliquid Strategies during the fourth quarter worth $15,167,000. Pantera Capital Partners LP purchased a new stake in shares of Hyperliquid Strategies during the 4th quarter valued at $14,545,000. Finally, Feynman Point Asset Management LLC purchased a new stake in shares of Hyperliquid Strategies during the 4th quarter valued at $14,431,000. 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.