Hyperliquid Strategies (NASDAQ:PURR) Shares Up 10.5% – Here’s Why

Hyperliquid Strategies Inc (NASDAQ:PURR) shares shot up 10.5% on Thursday . The stock traded as high as $8.38 and last traded at $8.3670. 8,880,710 shares changed hands during trading, an increase of 18% from the average session volume of 7,525,764 shares. The stock had previously closed at $7.57.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PURR. Cantor Fitzgerald upped their price objective on shares of Hyperliquid Strategies from $6.00 to $8.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Chardan Capital reaffirmed a “buy” rating and set a $9.75 price objective on shares of Hyperliquid Strategies in a research report on Friday. Wall Street Zen raised shares of Hyperliquid Strategies to a “hold” rating in a research report on Saturday, February 21st. Weiss Ratings raised shares of Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 3rd. Finally, Maxim Group assumed coverage on shares of Hyperliquid Strategies in a research report on Friday, April 24th. They set a “buy” rating and a $10.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.25.

Hyperliquid Strategies Stock Performance

The firm has a market capitalization of $1.26 billion, a PE ratio of -1.18 and a beta of 1.64. The stock has a 50 day moving average price of $7.14.

Hyperliquid Strategies (NASDAQ:PURR) last issued its earnings results on Thursday, May 7th. The company reported $1.01 EPS for the quarter. The business had revenue of $2.63 million for the quarter. As a group, equities research analysts expect that Hyperliquid Strategies Inc will post -0.75 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PURR. EHP Funds Inc. acquired a new position in Hyperliquid Strategies during the fourth quarter worth about $302,000. HRT Financial LP acquired a new position in Hyperliquid Strategies during the fourth quarter worth about $856,000. Jane Street Group LLC acquired a new position in shares of Hyperliquid Strategies in the fourth quarter valued at approximately $339,000. GM Advisory Group LLC acquired a new position in shares of Hyperliquid Strategies in the fourth quarter valued at approximately $2,946,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in shares of Hyperliquid Strategies in the fourth quarter valued at approximately $156,000. Institutional investors and hedge funds 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.