Hyperliquid Strategies (NASDAQ:PURR) Trading Down 7.4% – Here’s What Happened

Hyperliquid Strategies Inc (NASDAQ:PURR)’s share price dropped 7.4% during mid-day trading on Thursday . The stock traded as low as $9.07 and last traded at $9.0880. Approximately 8,268,294 shares were traded during mid-day trading, an increase of 4% from the average session volume of 7,980,958 shares. The stock had previously closed at $9.81.

Analysts Set New Price Targets

Several equities analysts have weighed in on PURR shares. Maxim Group started coverage on Hyperliquid Strategies in a research note on Friday, April 24th. They set a “buy” rating and a $10.00 target price on the stock. 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. Chardan Capital restated a “buy” rating and set a $9.75 price target on shares of Hyperliquid Strategies in a report on Friday, June 12th. Cantor Fitzgerald boosted their price objective on shares of Hyperliquid Strategies from $6.00 to $8.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Finally, Wall Street Zen upgraded shares of Hyperliquid Strategies to a “hold” rating in a research note on Saturday, February 21st. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Hyperliquid Strategies has an average rating of “Moderate Buy” and an average price target of $9.25.

Hyperliquid Strategies Price Performance

The stock has a market capitalization of $1.34 billion, a P/E ratio of -1.26 and a beta of 1.64. The company has a 50 day moving average price of $7.59.

Hyperliquid Strategies (NASDAQ:PURR) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.01 EPS for the quarter. The firm had revenue of $2.63 million during the quarter. Equities research analysts anticipate that Hyperliquid Strategies Inc will post 2.1 EPS for the current year.

Hedge Funds Weigh In On Hyperliquid Strategies

Several hedge funds have recently bought and sold shares of the business. Militia Capital Management LLC acquired a new stake in shares of Hyperliquid Strategies in the first quarter worth about $3,323,000. OLP CAPITAL MANAGEMENT Ltd acquired a new stake in Hyperliquid Strategies in the 1st quarter worth approximately $10,459,000. Bank of America Corp DE boosted its position in Hyperliquid Strategies by 896.4% during the first quarter. Bank of America Corp DE now owns 238,080 shares of the company’s stock worth $1,212,000 after purchasing an additional 214,187 shares during the period. Maplelane Capital LLC acquired a new position in Hyperliquid Strategies during the first quarter valued at approximately $2,927,000. Finally, Galaxy Digital Inc. bought a new position in shares of Hyperliquid Strategies in the first quarter valued at approximately $4,581,000. 9.45% of the stock is owned by institutional investors and hedge funds.

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.