Hyperliquid Strategies (NASDAQ:PURR) Trading Down 6.4% – Should You Sell?

Hyperliquid Strategies Inc (NASDAQ:PURR) shares dropped 6.4% during trading on Thursday . The stock traded as low as $11.29 and last traded at $11.2590. Approximately 8,344,465 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 10,588,859 shares. The stock had previously closed at $12.03.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Weiss Ratings raised shares of Hyperliquid Strategies from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, August 28th. Chardan Capital lifted their target price on Hyperliquid Strategies from $9.75 to $17.00 and gave the stock a “buy” rating in a report on Friday, August 28th. Cantor Fitzgerald boosted their price target on shares of Hyperliquid Strategies from $22.60 to $34.20 and gave the company an “overweight” rating in a report on Thursday. Finally, Wall Street Zen downgraded shares of Hyperliquid Strategies from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.40.

Hyperliquid Strategies Trading Down 7.0%

The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of -1.74 and a beta of 1.89. The firm has a 50-day simple moving average of $8.45 and a two-hundred day simple moving average of $7.32.

Institutional Trading of Hyperliquid Strategies

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

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.