Hyperliquid Strategies (NASDAQ:PURR) Shares Down 7.3% – What’s Next?

Hyperliquid Strategies Inc (NASDAQ:PURR) dropped 7.3% on Friday . The company traded as low as $5.40 and last traded at $5.4250. Approximately 2,908,789 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 3,845,903 shares. The stock had previously closed at $5.85.

Analyst Upgrades and Downgrades

PURR has been the subject of a number of recent analyst reports. Chardan Capital boosted their price objective on Hyperliquid Strategies from $8.15 to $8.45 and gave the company a “buy” rating in a research report on Thursday, February 12th. Weiss Ratings assumed coverage on shares of Hyperliquid Strategies in a research note on Monday, March 2nd. They issued a “sell (e)” rating on the stock. Cantor Fitzgerald boosted their price target on shares of Hyperliquid Strategies from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Finally, Wall Street Zen raised shares of Hyperliquid Strategies to a “hold” rating in a report on Saturday, February 21st. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Hyperliquid Strategies presently has an average rating of “Hold” and an average target price of $7.23.

Hyperliquid Strategies Stock Down 11.1%

The stock has a market cap of $644.64 million, a price-to-earnings ratio of -0.56 and a beta of 1.58.

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

Institutional Investors Weigh In On Hyperliquid Strategies

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

Hyperliquid Strategies Company Profile

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.