Hyperliquid Strategies (NASDAQ:PURR) Sets New 12-Month High – Here’s Why

Shares of Hyperliquid Strategies Inc (NASDAQ:PURR) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $9.13 and last traded at $8.45, with a volume of 18836588 shares traded. The stock had previously closed at $7.67.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PURR shares. Wall Street Zen upgraded shares of Hyperliquid Strategies to a “hold” rating in a research report on Saturday, February 21st. Weiss Ratings upgraded shares of Hyperliquid Strategies from a “sell (e)” rating to a “sell (d)” rating in a research report on Wednesday, May 20th. Cantor Fitzgerald upped their price objective on shares of Hyperliquid Strategies from $6.00 to $8.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Maxim Group started coverage on shares of Hyperliquid Strategies in a research report on Friday, April 24th. They set a “buy” rating and a $10.00 price objective for the company. Finally, Chardan Capital upped their price objective on shares of 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.25.

Hyperliquid Strategies Stock Up 10.2%

The business’s 50-day moving average is $6.16. The firm has a market cap of $1.14 billion, a PE ratio of -1.15 and a beta of 1.44.

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

Hedge Funds Weigh In On Hyperliquid Strategies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Boothbay Fund Management LLC acquired a new position in Hyperliquid Strategies in the 4th quarter valued at approximately $40,000. XTX Topco Ltd acquired a new position in Hyperliquid Strategies in the 4th quarter valued at approximately $48,000. Private Advisor Group LLC acquired a new stake in shares of Hyperliquid Strategies during the first quarter worth $83,000. Squarepoint Ops LLC acquired a new stake in shares of Hyperliquid Strategies during the fourth quarter worth $73,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Hyperliquid Strategies during the first quarter worth $117,000. 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.