Hyperliquid Strategies (NASDAQ:PURR) Trading 10.7% Higher – Time to Buy?

Hyperliquid Strategies Inc (NASDAQ:PURR) traded up 10.7% on Friday . The stock traded as high as $9.27 and last traded at $9.4550. 6,678,021 shares traded hands during trading, an increase of 11% from the average session volume of 6,004,634 shares. The stock had previously closed at $8.54.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Weiss Ratings raised Hyperliquid Strategies from a “sell (e)” rating to a “sell (d)” rating in a report on Wednesday, May 20th. Chardan Capital raised their price objective on Hyperliquid Strategies from $8.45 to $9.75 and gave the company a “buy” rating in a report on Wednesday, May 20th. Wall Street Zen raised Hyperliquid Strategies to a “hold” rating in a report on Saturday, February 21st. Maxim Group initiated coverage on Hyperliquid Strategies in a report on Friday, April 24th. They set a “buy” rating and a $10.00 price objective on the stock. Finally, Cantor Fitzgerald lifted their target price on Hyperliquid Strategies from $6.00 to $8.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Hyperliquid Strategies presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.25.

Hyperliquid Strategies Price Performance

The company has a market capitalization of $1.47 billion, a PE ratio of -1.37 and a beta of 1.44. The stock has a fifty day moving average price of $6.26.

Hyperliquid Strategies (NASDAQ:PURR) last posted its quarterly earnings data on Thursday, May 7th. The company reported $1.01 earnings per share for the quarter. The business had revenue of $2.63 million during the quarter. As a group, research analysts expect that Hyperliquid Strategies Inc will post -0.75 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Bank of America Corp DE raised its position in shares of Hyperliquid Strategies by 896.4% in the 1st quarter. Bank of America Corp DE now owns 238,080 shares of the company’s stock worth $1,212,000 after acquiring an additional 214,187 shares in the last quarter. Maplelane Capital LLC bought a new stake in Hyperliquid Strategies in the 1st quarter valued at about $2,927,000. Galaxy Digital Inc. bought a new stake in Hyperliquid Strategies in the 1st quarter valued at about $4,581,000. Bank of Nova Scotia bought a new stake in Hyperliquid Strategies in the 1st quarter valued at about $204,000. Finally, Militia Capital Management LLC bought a new stake in Hyperliquid Strategies in the 1st quarter valued at about $3,323,000. 9.45% of the stock is owned by institutional investors.

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.