Hyperliquid Strategies (NASDAQ:PURR) Trading 10.2% Higher – Here’s Why

Hyperliquid Strategies Inc (NASDAQ:PURR) shot up 10.2% during trading on Monday . The company traded as high as $8.75 and last traded at $8.8740. Approximately 3,537,570 shares changed hands during trading, a decline of 58% from the average session volume of 8,516,069 shares. The stock had previously closed at $8.05.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 3rd. Chardan Capital reiterated a “buy” rating and issued a $9.75 target price on shares of Hyperliquid Strategies in a research report on Friday, June 12th. Maxim Group started coverage on shares of 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, Cantor Fitzgerald upped their price target on shares of Hyperliquid Strategies from $8.00 to $18.40 and gave the company an “overweight” rating in a research report on Wednesday, July 1st. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Hyperliquid Strategies presently has an average rating of “Moderate Buy” and a consensus target price of $12.72.

Hyperliquid Strategies Stock Performance

The stock’s 50-day moving average is $8.01. The company has a market cap of $1.28 billion, a PE ratio of -1.21 and a beta of 1.66.

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

Hedge Funds Weigh In On Hyperliquid Strategies

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