Hyperliquid Strategies (NASDAQ:PURR) Shares Up 11.6% – Here’s What Happened

Hyperliquid Strategies Inc (NASDAQ:PURR)’s share price traded up 11.6% on Wednesday . The stock traded as high as $8.00 and last traded at $8.0340. 11,199,375 shares traded hands during mid-day trading, an increase of 32% from the average daily volume of 8,499,441 shares. The stock had previously closed at $7.20.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PURR shares. Cantor Fitzgerald upped their price target on Hyperliquid Strategies from $8.00 to $18.40 and gave the stock an “overweight” rating in a report on Wednesday, July 1st. Maxim Group initiated coverage on Hyperliquid Strategies in a research report on Friday, April 24th. They issued a “buy” rating and a $10.00 price objective for the company. Chardan Capital reaffirmed a “buy” rating and set a $9.75 target price on shares of Hyperliquid Strategies in a research note on Friday, June 12th. Finally, Weiss Ratings raised shares of Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 3rd. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.72.

Hyperliquid Strategies Stock Performance

The firm has a market capitalization of $1.14 billion, a P/E ratio of -1.07 and a beta of 1.71. The business has a 50 day simple moving average of $7.54.

Hedge Funds Weigh In On Hyperliquid Strategies

Institutional investors and hedge funds have recently bought and sold shares of the business. Militia Capital Management LLC acquired a new stake in shares of Hyperliquid Strategies in the first quarter valued at approximately $3,323,000. Galaxy Digital Inc. acquired a new position in Hyperliquid Strategies during the first quarter worth $4,581,000. OLP CAPITAL MANAGEMENT Ltd acquired a new position in Hyperliquid Strategies during the first quarter worth $10,459,000. Maplelane Capital LLC purchased a new stake in Hyperliquid Strategies in the 1st quarter valued at $2,927,000. Finally, Militia Capital Partners LP purchased a new stake in Hyperliquid Strategies in the 4th quarter valued at $1,784,000. 9.45% of the stock is currently 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.