Cantor Fitzgerald Issues Positive Forecast for Hyperliquid Strategies (NASDAQ:PURR) Stock Price

Hyperliquid Strategies (NASDAQ:PURR) had its target price hoisted by analysts at Cantor Fitzgerald from $8.00 to $18.40 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 128.94% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. 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 target for the company. Finally, Chardan Capital reissued a “buy” rating and set a $9.75 price target on shares of Hyperliquid Strategies in a report on Friday, June 12th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.72.

Hyperliquid Strategies Stock Up 2.1%

Hyperliquid Strategies stock traded up $0.17 during midday trading on Wednesday, hitting $8.04. The stock had a trading volume of 2,562,615 shares, compared to its average volume of 8,481,413. Hyperliquid Strategies has a 52-week low of $3.01 and a 52-week high of $11.62. The stock has a market capitalization of $1.16 billion, a P/E ratio of -1.10 and a beta of 1.64. The stock has a fifty day moving average of $7.88.

Hyperliquid Strategies (NASDAQ:PURR) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.01 earnings per share for the quarter. The firm had revenue of $2.63 million for the quarter. On average, equities research analysts anticipate that Hyperliquid Strategies will post 2.1 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PURR. Boothbay Fund Management LLC bought a new stake in shares of Hyperliquid Strategies in the fourth quarter worth about $40,000. XTX Topco Ltd purchased a new position in Hyperliquid Strategies during the 4th quarter valued at approximately $48,000. Squarepoint Ops LLC bought a new stake in Hyperliquid Strategies in the 4th quarter worth approximately $73,000. Private Advisor Group LLC bought a new stake in Hyperliquid Strategies in the 1st quarter worth approximately $83,000. Finally, Millennium Management LLC purchased a new stake in shares of Hyperliquid Strategies during the 4th quarter worth approximately $87,000. Institutional investors own 9.45% of the company’s stock.

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.