Hyperliquid Strategies (NASDAQ:PURR) Trading 10.9% Higher on Analyst Upgrade

Shares of Hyperliquid Strategies Inc (NASDAQ:PURR) traded up 10.9% during mid-day trading on Friday after Cantor Fitzgerald raised their price target on the stock from $22.60 to $34.20. Cantor Fitzgerald currently has an overweight rating on the stock. Hyperliquid Strategies traded as high as $11.85 and last traded at $12.2120. 3,208,326 shares were traded during trading, a decline of 70% from the average daily volume of 10,623,327 shares. The stock had previously closed at $11.01.

Several other research analysts have also recently weighed in on the stock. Wall Street Zen cut shares of Hyperliquid Strategies from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. Weiss Ratings upgraded Hyperliquid Strategies from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, August 28th. Finally, Chardan Capital lifted their target price on Hyperliquid Strategies from $9.75 to $17.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Hyperliquid Strategies has a consensus rating of “Moderate Buy” and a consensus target price of $20.40.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PURR. EHP Funds Inc. acquired a new stake in shares of Hyperliquid Strategies during the fourth quarter worth $302,000. HRT Financial LP acquired a new position in shares of Hyperliquid Strategies during the 4th quarter worth about $856,000. Jane Street Group LLC bought a new stake in shares of Hyperliquid Strategies in the 4th quarter valued at about $339,000. GM Advisory Group LLC acquired a new stake in shares of Hyperliquid Strategies in the 4th quarter valued at approximately $2,946,000. Finally, OMERS ADMINISTRATION Corp bought a new position in Hyperliquid Strategies during the 4th quarter worth approximately $156,000. Institutional investors and hedge funds own 9.45% of the company’s stock.

Hyperliquid Strategies Trading Up 9.8%

The firm has a market cap of $2.39 billion, a P/E ratio of -1.88 and a beta of 1.89. The firm’s 50 day moving average is $8.50 and its two-hundred day moving average is $7.37.

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.