Hyperliquid Strategies (NASDAQ:PURR) Shares Down 8.4% – Should You Sell?

Hyperliquid Strategies Inc (NASDAQ:PURR) shares were down 8.4% on Tuesday . The stock traded as low as $4.51 and last traded at $4.6250. Approximately 1,436,826 shares were traded during trading, a decline of 65% from the average daily volume of 4,129,009 shares. The stock had previously closed at $5.05.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PURR shares. Cantor Fitzgerald upped their price objective on shares of Hyperliquid Strategies from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Chardan Capital upped their price objective on shares of Hyperliquid Strategies from $8.15 to $8.45 and gave the stock a “buy” rating in a report on Thursday, February 12th. Wall Street Zen upgraded shares of Hyperliquid Strategies to a “hold” rating in a research note on Saturday, February 21st. Finally, Weiss Ratings assumed coverage on shares of Hyperliquid Strategies in a research note on Monday, March 2nd. They issued a “sell (e)” rating for the company. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $7.23.

Hyperliquid Strategies Stock Performance

The stock has a market cap of $589.34 million, a price-to-earnings ratio of -0.51 and a beta of 1.38.

Hyperliquid Strategies (NASDAQ:PURR) last posted its quarterly earnings results 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.

Hedge Funds Weigh In On Hyperliquid Strategies

Institutional investors have recently added to or reduced their stakes in the stock. Boothbay Fund Management LLC bought a new position in Hyperliquid Strategies during the fourth quarter worth about $40,000. XTX Topco Ltd purchased a new stake in Hyperliquid Strategies in the fourth quarter valued at approximately $48,000. Squarepoint Ops LLC purchased a new stake in Hyperliquid Strategies in the fourth quarter valued at approximately $73,000. Millennium Management LLC purchased a new stake in Hyperliquid Strategies in the fourth quarter valued at approximately $87,000. Finally, Ikarian Capital LLC purchased a new stake in Hyperliquid Strategies in the fourth quarter valued at approximately $107,000. Institutional investors own 9.45% of the company’s stock.

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.