Hyperliquid Strategies (NASDAQ:PURR) Trading Up 13.9% – Here’s What Happened

Hyperliquid Strategies Inc (NASDAQ:PURR) traded up 13.9% on Monday . The company traded as high as $5.04 and last traded at $4.93. 2,052,588 shares changed hands during trading, a decline of 36% from the average session volume of 3,191,807 shares. The stock had previously closed at $4.33.

Analysts Set New Price Targets

A number of brokerages have recently commented on PURR. Weiss Ratings began coverage on Hyperliquid Strategies in a research report on Monday, March 2nd. They issued a “sell (e)” rating on the stock. Chardan Capital lifted their price objective on Hyperliquid Strategies from $8.15 to $8.45 and gave the company a “buy” rating in a research note on Thursday, February 12th. Wall Street Zen raised Hyperliquid Strategies to a “hold” rating in a report on Saturday, February 21st. Finally, Cantor Fitzgerald raised their price target on Hyperliquid Strategies from $5.00 to $6.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.23.

Hyperliquid Strategies Stock Performance

The company has a market capitalization of $631.13 million, a PE ratio of -0.55 and a beta of 1.58.

Hyperliquid Strategies (NASDAQ:PURR) last announced its quarterly earnings data on Wednesday, February 11th. The company reported ($7.43) earnings per share for the quarter. The company had revenue of $0.50 million for the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Boothbay Fund Management LLC purchased a new stake in shares of Hyperliquid Strategies during the fourth quarter valued at $40,000. XTX Topco Ltd purchased a new position in Hyperliquid Strategies in the 4th quarter worth about $48,000. Squarepoint Ops LLC bought a new position in Hyperliquid Strategies during the 4th quarter valued at about $73,000. Millennium Management LLC bought a new position in Hyperliquid Strategies during the 4th quarter valued at about $87,000. Finally, Ikarian Capital LLC purchased a new stake in shares of Hyperliquid Strategies during the 4th quarter valued at about $107,000. 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.