Hyperliquid Strategies (NASDAQ:PURR) Stock Falls 5.9% – What’s Next?

Shares of Hyperliquid Strategies Inc (NASDAQ:PURR) dropped 5.9% during trading on Monday. The company traded as low as $12.24 and last traded at $12.0860. 4,297,663 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 11,592,221 shares. The stock had previously closed at $12.85.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Compass Point assumed coverage on Hyperliquid Strategies in a research note on Monday, September 14th. They set a “buy” rating and a $18.00 target price for the company. Chardan Capital boosted their price target on shares of Hyperliquid Strategies from $9.75 to $17.00 and gave the stock a “buy” rating in a report on Friday, August 28th. Weiss Ratings upgraded Hyperliquid Strategies from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, August 28th. Wall Street Zen cut Hyperliquid Strategies from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Finally, Cantor Fitzgerald raised their price target on Hyperliquid Strategies from $22.60 to $34.20 and gave the stock an “overweight” rating in a research note on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Hyperliquid Strategies presently has a consensus rating of “Buy” and a consensus price target of $19.80.

Hyperliquid Strategies Stock Down 3.7%

The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of -1.93 and a beta of 1.89. The company’s 50 day moving average price is $9.66 and its 200 day moving average price is $8.01.

Institutional Trading of Hyperliquid Strategies

Several institutional investors have recently made changes to their positions in the company. Tidal Investments LLC acquired a new position in shares of Hyperliquid Strategies during the second quarter worth about $5,285,000. Engineers Gate Manager LP purchased a new stake in shares of Hyperliquid Strategies during the second quarter worth approximately $533,000. Baird Financial Group Inc. acquired a new position in Hyperliquid Strategies during the 2nd quarter worth approximately $111,000. Amundi acquired a new stake in shares of Hyperliquid Strategies in the second quarter valued at about $190,000. Finally, SPX Gestao de Recursos Ltda acquired a new stake in Hyperliquid Strategies in the 2nd quarter valued at about $860,000. Hedge funds and other institutional investors own 9.45% of the company’s stock.

About Hyperliquid Strategies