Hyperliquid Strategies (NASDAQ:PURR) Reaches New 12-Month High – Still a Buy?

Hyperliquid Strategies Inc (NASDAQ:PURR) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $6.88 and last traded at $6.7450, with a volume of 835339 shares. The stock had previously closed at $6.50.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PURR. Weiss Ratings began coverage on Hyperliquid Strategies in a report on Monday, March 2nd. They set a “sell (e)” rating on the stock. Cantor Fitzgerald raised Hyperliquid Strategies to a “strong-buy” rating in a report on Thursday, April 9th. Wall Street Zen raised Hyperliquid Strategies to a “hold” rating in a report on Saturday, February 21st. Finally, Chardan Capital increased their price objective on Hyperliquid Strategies from $8.15 to $8.45 and gave the stock a “buy” rating in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.23.

Hyperliquid Strategies Trading Up 1.1%

The business has a fifty day moving average price of $4.96. The company has a market capitalization of $814.48 million, a price-to-earnings ratio of -0.71 and a beta of 1.38.

Hyperliquid Strategies (NASDAQ:PURR) last issued its quarterly earnings results on Wednesday, February 11th. The company reported ($7.43) earnings per share (EPS) for the quarter. The firm had revenue of $0.50 million during the quarter.

Institutional Investors Weigh In On Hyperliquid Strategies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Boothbay Fund Management LLC purchased a new stake in Hyperliquid Strategies in the fourth quarter valued at approximately $40,000. XTX Topco Ltd purchased a new stake in Hyperliquid Strategies in the fourth quarter valued at approximately $48,000. Squarepoint Ops LLC purchased a new stake in Hyperliquid Strategies in the fourth quarter valued at approximately $73,000. Millennium Management LLC purchased a new stake in Hyperliquid Strategies in the fourth quarter valued at approximately $87,000. Finally, Ikarian Capital LLC purchased a new stake in Hyperliquid Strategies in the fourth quarter valued at approximately $107,000. 9.45% of the stock is owned by hedge funds and other institutional investors.

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.