Hyperliquid Strategies (NASDAQ:PURR) Sees Unusually-High Trading Volume on Analyst Upgrade

Shares of Hyperliquid Strategies Inc (NASDAQ:PURR) saw unusually-strong trading volume on Wednesday after Chardan Capital raised their price target on the stock from $8.45 to $9.75. Chardan Capital currently has a buy rating on the stock. Approximately 3,233,629 shares traded hands during trading, a decline of 38% from the previous session’s volume of 5,192,967 shares.The stock last traded at $7.9790 and had previously closed at $7.79.

A number of other equities research analysts have also issued reports on the stock. Maxim Group assumed coverage on shares of Hyperliquid Strategies in a report on Friday, April 24th. They set a “buy” rating and a $10.00 price objective for the company. Weiss Ratings initiated coverage on shares of Hyperliquid Strategies in a research report on Monday, March 2nd. They set a “sell (e)” rating for the company. Cantor Fitzgerald lifted their price target on shares of Hyperliquid Strategies from $6.00 to $8.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Finally, Wall Street Zen upgraded shares of Hyperliquid Strategies to a “hold” rating in a research note on Saturday, February 21st. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Paradigm Operations LP purchased a new position in shares of Hyperliquid Strategies during the 4th quarter worth about $20,327,000. Galaxy Group Investments LLC purchased a new stake in shares of Hyperliquid Strategies in the 4th quarter worth $15,167,000. Pantera Capital Partners LP bought a new position in shares of Hyperliquid Strategies during the 4th quarter worth $14,545,000. Feynman Point Asset Management LLC purchased a new position in shares of Hyperliquid Strategies during the fourth quarter valued at $14,431,000. Finally, OLP CAPITAL MANAGEMENT Ltd bought a new stake in shares of Hyperliquid Strategies in the first quarter valued at about $10,459,000. 9.45% of the stock is owned by hedge funds and other institutional investors.

Hyperliquid Strategies Price Performance

The business has a 50 day moving average price of $5.90. The firm has a market capitalization of $1.09 billion, a P/E ratio of -1.07 and a beta of 1.44.

Hyperliquid Strategies (NASDAQ:PURR) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.01 EPS for the quarter. The business had revenue of $2.63 million during the quarter. Research analysts anticipate that Hyperliquid Strategies Inc will post -1.15 EPS for the current fiscal year.

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.