Hyperliquid Strategies (NASDAQ:PURR) Trading 10.7% Higher – Still a Buy?

Hyperliquid Strategies Inc (NASDAQ:PURR)’s share price rose 10.7% during trading on Friday . The company traded as high as $9.27 and last traded at $9.4550. Approximately 6,678,021 shares changed hands during mid-day trading, an increase of 11% from the average daily volume of 6,004,634 shares. The stock had previously closed at $8.54.

Wall Street Analysts Forecast Growth

PURR has been the subject of a number of research analyst reports. Cantor Fitzgerald boosted their target price on Hyperliquid Strategies from $6.00 to $8.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Weiss Ratings raised Hyperliquid Strategies from a “sell (e)” rating to a “sell (d)” rating in a report on Wednesday, May 20th. Chardan Capital boosted their price objective on Hyperliquid Strategies from $8.45 to $9.75 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Wall Street Zen raised Hyperliquid Strategies to a “hold” rating in a report on Saturday, February 21st. Finally, Maxim Group assumed coverage on Hyperliquid Strategies in a report on Friday, April 24th. They set a “buy” rating and a $10.00 price objective for the company. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.25.

Hyperliquid Strategies Stock Up 18.9%

The business has a fifty day moving average of $6.26. The company has a market capitalization of $1.47 billion, a PE ratio of -1.37 and a beta of 1.44.

Hyperliquid Strategies (NASDAQ:PURR) last announced its earnings results 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. On average, analysts forecast that Hyperliquid Strategies Inc will post -0.75 earnings per share for the current year.

Hedge Funds Weigh In On Hyperliquid Strategies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Paradigm Operations LP purchased a new position in shares of Hyperliquid Strategies in the 4th quarter worth approximately $20,327,000. Galaxy Group Investments LLC purchased a new position in shares of Hyperliquid Strategies in the 4th quarter worth approximately $15,167,000. Pantera Capital Partners LP purchased a new position in shares of Hyperliquid Strategies in the 4th quarter worth approximately $14,545,000. Feynman Point Asset Management LLC purchased a new position in shares of Hyperliquid Strategies in the 4th quarter worth approximately $14,431,000. Finally, OLP CAPITAL MANAGEMENT Ltd purchased a new position in shares of Hyperliquid Strategies in the 1st quarter worth approximately $10,459,000. Hedge funds and other 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.