Hyperliquid Strategies (NASDAQ:PURR) Trading Up 7% – Time to Buy?

Hyperliquid Strategies Inc (NASDAQ:PURR) was up 7% during mid-day trading on Thursday . The stock traded as high as $6.50 and last traded at $6.4970. Approximately 972,266 shares were traded during trading, a decline of 79% from the average daily volume of 4,666,330 shares. The stock had previously closed at $6.07.

Wall Street Analysts Forecast Growth

PURR has been the subject of a number of analyst reports. Weiss Ratings started coverage on shares of Hyperliquid Strategies in a report on Monday, March 2nd. They set a “sell (e)” rating for the company. Chardan Capital increased their price target on shares of Hyperliquid Strategies from $8.15 to $8.45 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Cantor Fitzgerald increased their price target on shares of Hyperliquid Strategies from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Monday. Wall Street Zen raised shares of Hyperliquid Strategies to a “hold” rating in a research note on Saturday, February 21st. Finally, Maxim Group began coverage on shares of Hyperliquid Strategies in a research note on Friday, April 24th. They issued a “buy” rating and a $10.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.82.

Hyperliquid Strategies Stock Performance

The firm has a 50 day simple moving average of $5.70. The firm has a market cap of $977.75 million, a price-to-earnings ratio of -0.98 and a beta of 1.44.

Hyperliquid Strategies (NASDAQ:PURR) last announced its quarterly earnings results on Wednesday, February 11th. The company reported ($7.43) EPS for the quarter. The business had revenue of $0.50 million for the quarter. On average, equities analysts anticipate that Hyperliquid Strategies Inc will post -1.15 earnings per share for the current year.

Institutional Investors Weigh In On Hyperliquid Strategies

Several large investors have recently added to or reduced their stakes in PURR. Boothbay Fund Management LLC purchased a new stake in Hyperliquid Strategies in the 4th quarter valued at about $40,000. XTX Topco Ltd purchased a new stake in Hyperliquid Strategies in the 4th quarter valued at about $48,000. Squarepoint Ops LLC purchased a new stake in shares of Hyperliquid Strategies in the 4th quarter worth approximately $73,000. Private Advisor Group LLC purchased a new stake in shares of Hyperliquid Strategies in the 1st quarter worth approximately $83,000. Finally, Millennium Management LLC purchased a new stake in shares of Hyperliquid Strategies in the 4th quarter worth approximately $87,000. 9.45% of the stock is owned by hedge funds and other 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.