Hyperliquid Strategies (NASDAQ:PURR) Sees Unusually-High Trading Volume – Time to Buy?

Hyperliquid Strategies Inc (NASDAQ:PURR) shares saw an uptick in trading volume on Tuesday . 7,490,608 shares changed hands during mid-day trading, a decline of 3% from the previous session’s volume of 7,716,398 shares.The stock last traded at $10.5880 and had previously closed at $9.34.

Analysts Set New Price Targets

Several brokerages have issued reports on PURR. Cantor Fitzgerald upped their price target on shares of Hyperliquid Strategies from $6.00 to $8.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Wall Street Zen upgraded shares of Hyperliquid Strategies to a “hold” rating in a research report on Saturday, February 21st. Maxim Group began coverage on shares of Hyperliquid Strategies in a research report on Friday, April 24th. They issued a “buy” rating and a $10.00 price target for the company. Weiss Ratings upgraded shares of Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 3rd. Finally, Chardan Capital restated a “buy” rating and issued a $9.75 price target on shares of Hyperliquid Strategies in a research report on Friday. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.25.

Hyperliquid Strategies Price Performance

The firm has a 50-day simple moving average of $7.23. The stock has a market cap of $1.50 billion, a P/E ratio of -1.41 and a beta of 1.64.

Hyperliquid Strategies (NASDAQ:PURR) last released its earnings results on Thursday, May 7th. The company reported $1.01 earnings per share (EPS) for the quarter. The company had revenue of $2.63 million for the quarter. Analysts predict that Hyperliquid Strategies Inc will post -0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hyperliquid Strategies

A number of large investors have recently bought and sold shares of PURR. Paradigm Operations LP acquired a new stake in Hyperliquid Strategies in the fourth quarter worth $20,327,000. Galaxy Group Investments LLC acquired a new stake in Hyperliquid Strategies in the fourth quarter worth $15,167,000. Pantera Capital Partners LP acquired a new stake in Hyperliquid Strategies in the fourth quarter worth $14,545,000. Feynman Point Asset Management LLC acquired a new stake in Hyperliquid Strategies in the fourth quarter worth $14,431,000. Finally, OLP CAPITAL MANAGEMENT Ltd acquired a new stake in Hyperliquid Strategies in the first quarter worth $10,459,000. 9.45% of the stock is currently owned by institutional investors and hedge funds.

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.