Hyperliquid Strategies (NASDAQ:PURR) Shares Down 5.6% – Time to Sell?

Hyperliquid Strategies Inc (NASDAQ:PURR) dropped 5.6% on Friday . The company traded as low as $7.93 and last traded at $8.0080. Approximately 7,876,613 shares traded hands during mid-day trading, an increase of 40% from the average daily volume of 5,608,623 shares. The stock had previously closed at $8.48.

Analyst Upgrades and Downgrades

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

Hyperliquid Strategies Stock Performance

The firm has a market cap of $1.09 billion, a P/E ratio of -1.10 and a beta of 1.44. The stock’s fifty day moving average price is $6.02.

Hyperliquid Strategies (NASDAQ:PURR) last posted its earnings results on Thursday, May 7th. The company reported $1.01 earnings per share for the quarter. The firm had revenue of $2.63 million for the quarter. On average, analysts anticipate that Hyperliquid Strategies Inc will post -1.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE grew its holdings in shares of Hyperliquid Strategies by 896.4% during 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 during the period. Bank of New York Mellon Corp purchased a new position in shares of Hyperliquid Strategies during the 1st quarter worth approximately $142,000. Bank of Nova Scotia purchased a new position in shares of Hyperliquid Strategies during the 1st quarter worth approximately $204,000. OLP CAPITAL MANAGEMENT Ltd purchased a new position in shares of Hyperliquid Strategies during the 1st quarter worth approximately $10,459,000. Finally, Galaxy Digital Inc. purchased a new position in shares of Hyperliquid Strategies during the 1st quarter worth approximately $4,581,000. Hedge funds and other institutional investors own 9.45% of the company’s stock.

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.