Hyperliquid Strategies (NASDAQ:PURR) Shares Down 13.4% – Should You Sell?

Hyperliquid Strategies Inc (NASDAQ:PURR) traded down 13.4% during mid-day trading on Friday . The stock traded as low as $8.30 and last traded at $8.2140. 10,151,268 shares traded hands during mid-day trading, an increase of 41% from the average session volume of 7,216,071 shares. The stock had previously closed at $9.49.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Maxim Group assumed coverage on shares of Hyperliquid Strategies in a research note on Friday, April 24th. They issued a “buy” rating and a $10.00 target price for the company. Chardan Capital boosted their price target on shares of Hyperliquid Strategies from $8.45 to $9.75 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Cantor Fitzgerald boosted their price target 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. Weiss Ratings raised shares of Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday. Finally, Wall Street Zen raised shares of Hyperliquid Strategies to a “hold” rating in a report on Saturday, February 21st. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.25.

Hyperliquid Strategies Stock Down 10.1%

The stock has a market capitalization of $1.23 billion, a PE ratio of -1.16 and a beta of 1.64. The firm has a fifty day moving average price of $6.80.

Hyperliquid Strategies (NASDAQ:PURR) last posted its quarterly earnings data on Thursday, May 7th. The company reported $1.01 earnings per share for the quarter. The company had revenue of $2.63 million during the quarter. As a group, research analysts expect that Hyperliquid Strategies Inc will post -0.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PURR. Boothbay Fund Management LLC purchased a new stake in Hyperliquid Strategies in the fourth quarter worth $40,000. XTX Topco Ltd purchased a new stake in Hyperliquid Strategies in the fourth quarter worth $48,000. Squarepoint Ops LLC purchased a new stake in Hyperliquid Strategies in the fourth quarter worth $73,000. Private Advisor Group LLC purchased a new stake in Hyperliquid Strategies in the first quarter worth $83,000. Finally, Millennium Management LLC purchased a new stake in Hyperliquid Strategies in the fourth quarter worth $87,000. 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.