Hyperliquid Strategies (NASDAQ:PURR) Trading Down 5.6% – Here’s Why

Hyperliquid Strategies Inc (NASDAQ:PURR) was down 5.6% on Tuesday . The stock traded as low as $11.23 and last traded at $11.5580. 8,357,166 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 10,087,396 shares. The stock had previously closed at $12.25.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PURR shares. Wall Street Zen downgraded Hyperliquid Strategies from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Weiss Ratings raised shares of Hyperliquid Strategies from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, August 28th. Chardan Capital raised their target price on shares of Hyperliquid Strategies from $9.75 to $17.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Finally, Cantor Fitzgerald set a $22.60 price target on Hyperliquid Strategies and gave the company an “overweight” rating in a research report on Thursday, August 27th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Hyperliquid Strategies has a consensus rating of “Moderate Buy” and a consensus target price of $16.53.

Hyperliquid Strategies Stock Performance

The firm’s 50-day moving average price is $8.05 and its two-hundred day moving average price is $7.04. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -1.76 and a beta of 1.88.

Institutional Trading of Hyperliquid Strategies

Several hedge funds have recently made changes to their positions in the company. State of Wyoming purchased a new stake in shares of Hyperliquid Strategies during the 2nd quarter valued at approximately $46,000. Shepherd Financial Partners LLC purchased a new stake in Hyperliquid Strategies in the second quarter valued at $79,000. Boothbay Fund Management LLC acquired a new position in shares of Hyperliquid Strategies in the 4th quarter valued at $40,000. Lotus Technology Management LP purchased a new position in shares of Hyperliquid Strategies during the 2nd quarter worth $93,000. Finally, XTX Topco Ltd acquired a new stake in shares of Hyperliquid Strategies during the 4th quarter worth about $48,000. 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.