Hyperliquid Strategies (NASDAQ:PURR) Stock Price Up 10.2% – Still a Buy?

Shares of Hyperliquid Strategies Inc (NASDAQ:PURR) shot up 10.2% during mid-day trading on Monday . The company traded as high as $8.75 and last traded at $8.8740. 3,537,570 shares changed hands during trading, a decline of 58% from the average daily volume of 8,516,069 shares. The stock had previously closed at $8.05.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PURR shares. Chardan Capital reissued a “buy” rating and set a $9.75 target price on shares of Hyperliquid Strategies in a research note on Friday, June 12th. Maxim Group began coverage on shares of Hyperliquid Strategies in a report on Friday, April 24th. They set a “buy” rating and a $10.00 target price 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, Cantor Fitzgerald raised their price target on shares of Hyperliquid Strategies from $8.00 to $18.40 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $12.72.

Hyperliquid Strategies Stock Performance

The business has a 50-day moving average of $8.11. The company has a market cap of $1.11 billion, a PE ratio of -1.05 and a beta of 1.66.

Hyperliquid Strategies (NASDAQ:PURR) last issued 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 during the quarter. As a group, research analysts forecast that Hyperliquid Strategies Inc will post 2.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hyperliquid Strategies

Several hedge funds and other institutional investors have recently bought and sold shares of PURR. Boothbay Fund Management LLC acquired a new position in Hyperliquid Strategies in the 4th quarter valued at about $40,000. XTX Topco Ltd purchased a new position in Hyperliquid Strategies during the fourth quarter worth about $48,000. Private Advisor Group LLC acquired a new stake in Hyperliquid Strategies in the 1st quarter valued at approximately $83,000. Squarepoint Ops LLC acquired a new stake in shares of Hyperliquid Strategies in the fourth quarter valued at $73,000. Finally, SG Americas Securities LLC acquired a new position in Hyperliquid Strategies in the 1st quarter valued at about $117,000. 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.