Hyperliquid Strategies (NASDAQ:PURR) Shares Up 7.9% – Still a Buy?

Shares of Hyperliquid Strategies Inc (NASDAQ:PURR) traded up 7.9% during trading on Friday . The company traded as high as $8.64 and last traded at $8.6550. 6,759,673 shares were traded during trading, a decline of 18% from the average session volume of 8,277,943 shares. The stock had previously closed at $8.02.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PURR shares. Weiss Ratings upgraded shares of Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 3rd. Maxim Group started coverage on Hyperliquid Strategies in a research note on Friday, April 24th. They issued a “buy” rating and a $10.00 price objective on the stock. Cantor Fitzgerald raised their target price on Hyperliquid Strategies from $6.00 to $8.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $9.75 target price on shares of Hyperliquid Strategies in a report on Friday, June 12th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.25.

Hyperliquid Strategies Stock Performance

The firm has a market cap of $1.25 billion, a PE ratio of -1.17 and a beta of 1.64. The business has a 50-day moving average of $7.77.

Hyperliquid Strategies (NASDAQ:PURR) last released 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 for the quarter. Sell-side analysts forecast that Hyperliquid Strategies Inc will post 2.1 earnings per share for the current fiscal year.

Institutional Trading of Hyperliquid Strategies

A number of hedge funds have recently bought and sold shares of PURR. Paradigm Operations LP purchased a new position in shares of Hyperliquid Strategies in the fourth quarter worth approximately $20,327,000. Galaxy Group Investments LLC acquired a new position in Hyperliquid Strategies in the 4th quarter worth approximately $15,167,000. Pantera Capital Partners LP purchased a new position in Hyperliquid Strategies during the 4th quarter worth approximately $14,545,000. Feynman Point Asset Management LLC purchased a new position in Hyperliquid Strategies during the 4th quarter worth approximately $14,431,000. Finally, OLP CAPITAL MANAGEMENT Ltd acquired a new stake in Hyperliquid Strategies during the 1st quarter valued at $10,459,000. 9.45% of the stock is owned by hedge funds and other institutional investors.

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.