Hyperliquid Strategies (NASDAQ:PURR) Stock Price Down 8.4% – Here’s What Happened

Shares of Hyperliquid Strategies Inc (NASDAQ:PURR) fell 8.4% on Tuesday . The company traded as low as $4.51 and last traded at $4.6250. 1,436,826 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 4,129,009 shares. The stock had previously closed at $5.05.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PURR. Cantor Fitzgerald raised their target price on Hyperliquid Strategies from $5.00 to $6.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. Weiss Ratings began coverage on Hyperliquid Strategies in a report on Monday, March 2nd. They issued a “sell (e)” rating on the stock. Chardan Capital raised their target price on Hyperliquid Strategies from $8.15 to $8.45 and gave the company a “buy” rating in a report on Thursday, February 12th. Finally, Wall Street Zen upgraded Hyperliquid Strategies to a “hold” rating in a report on Saturday, February 21st. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $7.23.

Hyperliquid Strategies Price Performance

The firm has a market cap of $665.72 million, a price-to-earnings ratio of -0.58 and a beta of 1.38. The stock has a fifty day simple moving average of $4.89.

Hyperliquid Strategies (NASDAQ:PURR) last issued its earnings results on Wednesday, February 11th. The company reported ($7.43) earnings per share (EPS) for the quarter. The business had revenue of $0.50 million during the quarter.

Institutional Trading of Hyperliquid Strategies

Hedge funds have recently made changes to their positions in the company. Boothbay Fund Management LLC bought a new stake in shares of Hyperliquid Strategies in the fourth quarter valued at $40,000. XTX Topco Ltd purchased a new stake in shares of Hyperliquid Strategies during the 4th quarter valued at approximately $48,000. Squarepoint Ops LLC purchased a new stake in shares of Hyperliquid Strategies during the 4th quarter valued at approximately $73,000. Millennium Management LLC purchased a new stake in shares of Hyperliquid Strategies during the 4th quarter valued at approximately $87,000. Finally, Ikarian Capital LLC purchased a new stake in shares of Hyperliquid Strategies during the 4th quarter valued at approximately $107,000. 9.45% of the stock is currently 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.