Hyperliquid Strategies (NASDAQ:PURR) Trading 10.5% Higher – Here’s What Happened

Hyperliquid Strategies Inc (NASDAQ:PURR)’s stock price traded up 10.5% during mid-day trading on Thursday . The company traded as high as $8.38 and last traded at $8.3670. 8,880,710 shares changed hands during mid-day trading, an increase of 18% from the average session volume of 7,525,764 shares. The stock had previously closed at $7.57.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PURR shares. Wall Street Zen raised Hyperliquid Strategies to a “hold” rating in a research report on Saturday, February 21st. Maxim Group began coverage on Hyperliquid Strategies in a report on Friday, April 24th. They set a “buy” rating and a $10.00 price objective on the stock. Cantor Fitzgerald raised their price objective on Hyperliquid Strategies from $6.00 to $8.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Weiss Ratings upgraded Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 3rd. Finally, Chardan Capital upped their target price on Hyperliquid Strategies from $8.45 to $9.75 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Hyperliquid Strategies has an average rating of “Moderate Buy” and a consensus target price of $9.25.

Hyperliquid Strategies Stock Up 13.4%

The stock’s fifty day moving average price is $7.00. The stock has a market cap of $1.24 billion, a P/E ratio of -1.15 and a beta of 1.64.

Hyperliquid Strategies (NASDAQ:PURR) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.01 EPS for the quarter. The business had revenue of $2.63 million during the quarter. Equities analysts anticipate that Hyperliquid Strategies Inc will post -0.75 EPS for the current year.

Institutional Investors Weigh In On Hyperliquid Strategies

A number of institutional investors have recently added to or reduced their stakes in PURR. Squarepoint Ops LLC bought a new position in Hyperliquid Strategies during the fourth quarter valued at about $73,000. XTX Topco Ltd acquired a new stake in shares of Hyperliquid Strategies during the 4th quarter worth approximately $48,000. Boothbay Fund Management LLC acquired a new stake in shares of Hyperliquid Strategies during the 4th quarter worth approximately $40,000. Bank of New York Mellon Corp bought a new stake in shares of Hyperliquid Strategies during the first quarter valued at approximately $142,000. Finally, Bank of Nova Scotia bought a new stake in shares of Hyperliquid Strategies during the first quarter valued at approximately $204,000. 9.45% of the stock is 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.