Hyperliquid Strategies (NASDAQ:PURR) Shares Down 5.6% – Time to Sell?

Hyperliquid Strategies Inc (NASDAQ:PURR) traded down 5.6% on Friday . The company traded as low as $7.93 and last traded at $8.0080. 7,876,613 shares changed hands during trading, an increase of 40% from the average session volume of 5,608,623 shares. The stock had previously closed at $8.48.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PURR shares. Weiss Ratings upgraded Hyperliquid Strategies from a “sell (e)” rating to a “sell (d)” rating in a research note on Wednesday. Chardan Capital upped their price target on Hyperliquid Strategies from $8.45 to $9.75 and gave the stock a “buy” rating in a research note on Wednesday. Cantor Fitzgerald upped their price target on Hyperliquid Strategies from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Maxim Group started coverage on Hyperliquid Strategies in a research note on Friday, April 24th. They issued a “buy” rating and a $10.00 price target on the stock. Finally, Wall Street Zen upgraded Hyperliquid Strategies to a “hold” rating in a research note on Saturday, February 21st. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.25.

Hyperliquid Strategies Stock Performance

The company has a market cap of $1.09 billion, a P/E ratio of -1.10 and a beta of 1.44. The company has a 50 day moving average of $6.02.

Hyperliquid Strategies (NASDAQ:PURR) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.01 earnings per share for the quarter. The company had revenue of $2.63 million during the quarter. As a group, sell-side analysts predict that Hyperliquid Strategies Inc will post -1.15 earnings per share for the current fiscal year.

Institutional Trading of Hyperliquid Strategies

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

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.