Hyperliquid Strategies (NASDAQ:PURR) Sees Unusually-High Trading Volume – Time to Buy?

Hyperliquid Strategies Inc (NASDAQ:PURR) shares saw strong trading volume on Tuesday . 7,490,608 shares were traded during mid-day trading, a decline of 3% from the previous session’s volume of 7,716,398 shares.The stock last traded at $10.5880 and had previously closed at $9.34.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Weiss Ratings upgraded shares of Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 3rd. Cantor Fitzgerald raised their price objective on shares of Hyperliquid Strategies from $6.00 to $8.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Chardan Capital reaffirmed a “buy” rating and issued a $9.75 price objective on shares of Hyperliquid Strategies in a research note on Friday. Maxim Group started coverage on shares of Hyperliquid Strategies in a research note on Friday, April 24th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, Wall Street Zen raised shares of Hyperliquid Strategies to a “hold” rating in a research note on Saturday, February 21st. Three research 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 presently has an average rating of “Moderate Buy” and a consensus target price of $9.25.

Hyperliquid Strategies Price Performance

The firm has a market capitalization of $1.50 billion, a PE ratio of -1.41 and a beta of 1.64. The company’s 50 day simple moving average is $7.23.

Hyperliquid Strategies (NASDAQ:PURR) last released 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. Research analysts expect that Hyperliquid Strategies Inc will post -0.75 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. OLP CAPITAL MANAGEMENT Ltd bought a new position in shares of Hyperliquid Strategies during the first quarter valued at about $10,459,000. Bank of America Corp DE lifted its position in shares of Hyperliquid Strategies by 896.4% during the first quarter. Bank of America Corp DE now owns 238,080 shares of the company’s stock valued at $1,212,000 after purchasing an additional 214,187 shares in the last quarter. Maplelane Capital LLC bought a new position in shares of Hyperliquid Strategies during the first quarter valued at about $2,927,000. Galaxy Digital Inc. bought a new position in shares of Hyperliquid Strategies during the first quarter valued at about $4,581,000. Finally, Bank of Nova Scotia bought a new position in shares of Hyperliquid Strategies during the first quarter valued at about $204,000. 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.