Hyperliquid Strategies (NASDAQ:PURR) Price Target Raised to $9.75 at Chardan Capital

Hyperliquid Strategies (NASDAQ:PURR) had its price objective hoisted by equities research analysts at Chardan Capital from $8.45 to $9.75 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Chardan Capital’s target price points to a potential upside of 25.16% from the stock’s current price.

PURR has been the subject of a number of other reports. Wall Street Zen raised Hyperliquid Strategies to a “hold” rating in a report on Saturday, February 21st. Weiss Ratings initiated coverage on Hyperliquid Strategies in a report on Monday, March 2nd. They issued a “sell (e)” rating for the company. Cantor Fitzgerald lifted their price target on Hyperliquid Strategies from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Finally, Maxim Group initiated coverage on Hyperliquid Strategies in a report on Friday, April 24th. They issued a “buy” rating and a $10.00 price target for the company. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Hyperliquid Strategies presently has an average rating of “Moderate Buy” and a consensus price target of $9.25.

Hyperliquid Strategies Price Performance

Hyperliquid Strategies stock opened at $7.79 on Wednesday. The firm has a 50-day simple moving average of $5.90. Hyperliquid Strategies has a 12-month low of $3.01 and a 12-month high of $7.94. The company has a market capitalization of $1.05 billion, a PE ratio of -1.06 and a beta of 1.44.

Institutional Trading of Hyperliquid Strategies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position in Hyperliquid Strategies by 896.4% in 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 during the period. Bank of New York Mellon Corp acquired a new stake in Hyperliquid Strategies in the first quarter worth about $142,000. Bank of Nova Scotia acquired a new stake in Hyperliquid Strategies in the first quarter worth about $204,000. OLP CAPITAL MANAGEMENT Ltd acquired a new stake in Hyperliquid Strategies in the first quarter worth about $10,459,000. Finally, Galaxy Digital Inc. acquired a new stake in Hyperliquid Strategies in the first quarter worth about $4,581,000. 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.