Hyperliquid Strategies (NASDAQ:PURR) Sees Strong Trading Volume – Time to Buy?

Hyperliquid Strategies Inc (NASDAQ:PURR) saw unusually-high trading volume on Thursday . Approximately 11,851,083 shares traded hands during mid-day trading, an increase of 34% from the previous session’s volume of 8,830,111 shares.The stock last traded at $9.8390 and had previously closed at $9.39.

Analysts Set New Price Targets

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

Hyperliquid Strategies Stock Up 5.2%

The firm’s 50 day moving average is $7.57. The firm has a market cap of $1.43 billion, a P/E ratio of -1.34 and a beta of 1.71.

Hedge Funds Weigh In On Hyperliquid Strategies

A number of large investors have recently made changes to their positions in the stock. State of Wyoming purchased a new stake in Hyperliquid Strategies during the 2nd quarter worth about $46,000. Shepherd Financial Partners LLC purchased a new stake in shares of Hyperliquid Strategies in the second quarter worth about $79,000. Boothbay Fund Management LLC purchased a new stake in shares of Hyperliquid Strategies in the fourth quarter worth about $40,000. Lotus Technology Management LP bought a new position in shares of Hyperliquid Strategies in the second quarter valued at approximately $93,000. Finally, XTX Topco Ltd bought a new position in shares of Hyperliquid Strategies in the fourth quarter valued at approximately $48,000. 9.45% of the stock is owned by institutional investors.

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.