Hyperliquid Strategies (NASDAQ:PURR) Shares Up 10.4% – Here’s Why

Hyperliquid Strategies Inc (NASDAQ:PURR)’s stock price traded up 10.4% during mid-day trading on Tuesday. The stock traded as high as $10.06 and last traded at $10.0150. Approximately 6,439,115 shares were traded during trading, a decline of 45% from the average session volume of 11,700,438 shares. The stock had previously closed at $9.07.

Analysts Set New Price Targets

PURR has been the subject of a number of recent analyst reports. Cantor Fitzgerald boosted their target price on shares of Hyperliquid Strategies from $22.60 to $34.20 and gave the company an “overweight” rating in a research note on Thursday, September 10th. Weiss Ratings cut Hyperliquid Strategies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 23rd. Chardan Capital upped their target price on Hyperliquid Strategies from $9.75 to $17.00 and gave the stock a “buy” rating in a report on Friday, August 28th. Wall Street Zen lowered shares of Hyperliquid Strategies from a “hold” rating to a “sell” rating in a research note on Sunday, October 11th. Finally, Compass Point initiated coverage on shares of Hyperliquid Strategies in a report on Monday, September 14th. They set a “buy” rating and a $18.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $19.80.

Hyperliquid Strategies Price Performance

The firm has a market capitalization of $3.31 billion, a P/E ratio of -1.85 and a beta of 1.89. The stock’s fifty day simple moving average is $11.35 and its 200 day simple moving average is $7.95.

Institutional Investors Weigh In On Hyperliquid Strategies

Several institutional investors have recently bought and sold shares of PURR. BlackRock Inc. purchased a new position in Hyperliquid Strategies in the second quarter worth $79,842,000. Paradigm Operations LP purchased a new position in Hyperliquid Strategies during the 2nd quarter worth $44,936,535. OLP CAPITAL MANAGEMENT Ltd purchased a new position in Hyperliquid Strategies during the 1st quarter worth $10,459,000. Galaxy Digital Inc. acquired a new position in Hyperliquid Strategies during the 1st quarter valued at about $4,581,000. Finally, Wealth High Governance Capital Ltda purchased a new stake in Hyperliquid Strategies in the second quarter valued at about $6,517,000. 9.45% of the stock is currently owned by institutional investors and hedge funds.

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.