Hyperliquid Strategies (NASDAQ:PURR) Sees Strong Trading Volume – Should You Buy?

Hyperliquid Strategies Inc (NASDAQ:PURR) saw unusually-high trading volume on Thursday . 9,458,454 shares traded hands during mid-day trading, a decline of 7% from the previous session’s volume of 10,201,835 shares.The stock last traded at $12.2670 and had previously closed at $11.32.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PURR shares. Cantor Fitzgerald set a $22.60 price target on Hyperliquid Strategies and gave the company an “overweight” rating in a research report on Thursday, August 27th. Weiss Ratings upgraded Hyperliquid Strategies from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, August 28th. Chardan Capital raised their price objective on Hyperliquid Strategies from $9.75 to $17.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Finally, Wall Street Zen cut shares of Hyperliquid Strategies from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.53.

Hyperliquid Strategies Price Performance

The stock’s 50 day simple moving average is $8.21 and its two-hundred day simple moving average is $7.13. The firm has a market cap of $2.41 billion, a P/E ratio of -1.90 and a beta of 1.89.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Hyperliquid Strategies in the second quarter worth $79,842,000. Paradigm Operations LP purchased a new stake in shares of Hyperliquid Strategies in the second quarter worth $44,936,535. Galaxy Group Investments LLC bought a new position in shares of Hyperliquid Strategies during the fourth quarter valued at $15,167,000. Pantera Capital Partners LP bought a new position in shares of Hyperliquid Strategies during the fourth quarter valued at $14,545,000. Finally, Feynman Point Asset Management LLC bought a new position in shares of Hyperliquid Strategies during the fourth quarter valued at $14,431,000. 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.