Hyperliquid Strategies (NASDAQ:PURR) Stock Price Down 5% – Here’s Why

Hyperliquid Strategies Inc (NASDAQ:PURR)’s share price traded down 5% on Tuesday . The company traded as low as $8.04 and last traded at $8.0460. 864,991 shares were traded during mid-day trading, a decline of 90% from the average session volume of 8,452,148 shares. The stock had previously closed at $8.47.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PURR shares. Cantor Fitzgerald boosted their price objective on shares of Hyperliquid Strategies from $8.00 to $18.40 and gave the stock an “overweight” rating in a report on Wednesday. Maxim Group assumed coverage on Hyperliquid Strategies in a research report on Friday, April 24th. They set a “buy” rating and a $10.00 target price on the stock. Chardan Capital restated a “buy” rating and set a $9.75 price target on shares of Hyperliquid Strategies in a research note on Friday, June 12th. Finally, Weiss Ratings raised Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 3rd. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Hyperliquid Strategies presently has a consensus rating of “Moderate Buy” and an average price target of $12.72.

Hyperliquid Strategies Trading Up 4.3%

The firm has a market capitalization of $1.19 billion, a PE ratio of -1.11 and a beta of 1.67. The business has a 50-day moving average price of $7.92.

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. Equities research analysts predict that Hyperliquid Strategies Inc will post 2.1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PURR. Boothbay Fund Management LLC acquired a new stake in shares of Hyperliquid Strategies in the 4th quarter valued at $40,000. XTX Topco Ltd acquired a new stake in shares of Hyperliquid Strategies during the 4th quarter worth about $48,000. Private Advisor Group LLC bought a new position in Hyperliquid Strategies during the 1st quarter valued at about $83,000. Squarepoint Ops LLC bought a new position in Hyperliquid Strategies during the 4th quarter valued at about $73,000. Finally, SG Americas Securities LLC acquired a new position in Hyperliquid Strategies in the first quarter valued at about $117,000. 9.45% of the stock is owned by institutional investors.

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.