Hyperliquid Strategies (NASDAQ:PURR) Sees Strong Trading Volume – Here’s Why

Hyperliquid Strategies Inc (NASDAQ:PURR) saw unusually-strong trading volume on Thursday . 9,440,520 shares traded hands during trading, a decline of 1% from the previous session’s volume of 9,516,014 shares.The stock last traded at $13.3620 and had previously closed at $11.56.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Weiss Ratings raised shares of Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 3rd. Chardan Capital reissued a “buy” rating and set a $9.75 price objective on shares of Hyperliquid Strategies in a research report on Thursday. Finally, Cantor Fitzgerald lifted their price objective on shares of Hyperliquid Strategies from $8.00 to $18.40 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.72.

Hyperliquid Strategies Stock Up 19.7%

The business’s 50 day moving average is $7.74. The company has a market capitalization of $2.00 billion, a PE ratio of -1.88 and a beta of 1.71.

Institutional Investors Weigh In On Hyperliquid Strategies

Hedge funds have recently modified their holdings of the stock. State of Wyoming purchased a new stake in shares of Hyperliquid Strategies in the second quarter valued at about $46,000. Shepherd Financial Partners LLC acquired a new stake in Hyperliquid Strategies in the second quarter valued at about $79,000. Boothbay Fund Management LLC acquired a new stake in Hyperliquid Strategies in the fourth quarter valued at about $40,000. Lotus Technology Management LP purchased a new stake in Hyperliquid Strategies in the 2nd quarter valued at approximately $93,000. Finally, XTX Topco Ltd purchased a new stake in Hyperliquid Strategies in the 4th quarter valued at approximately $48,000. 9.45% of the stock is owned by institutional investors and hedge funds.

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.