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

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

Analysts Set New Price Targets

PURR has been the subject of several recent research reports. Wall Street Zen upgraded shares of Hyperliquid Strategies to a “hold” rating in a report on Saturday, February 21st. Chardan Capital increased their price target on shares of Hyperliquid Strategies from $8.45 to $9.75 and gave the company a “buy” rating in a research note on Wednesday. Cantor Fitzgerald increased their price target on shares of Hyperliquid Strategies from $6.00 to $8.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Weiss Ratings upgraded shares of Hyperliquid Strategies from a “sell (e)” rating to a “sell (d)” rating in a research note on Wednesday. Finally, Maxim Group started 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $9.25.

Hyperliquid Strategies Trading Down 9.6%

The stock has a market cap of $1.03 billion, a PE ratio of -1.04 and a beta of 1.44. The business’s 50 day simple moving average is $6.05.

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. On average, research analysts anticipate that Hyperliquid Strategies Inc will post -0.75 earnings per share for the current year.

Hedge Funds Weigh In On Hyperliquid Strategies

Several large investors have recently modified their holdings of PURR. Paradigm Operations LP bought a new position in shares of Hyperliquid Strategies in the fourth quarter valued at about $20,327,000. Galaxy Group Investments LLC bought a new position in shares of Hyperliquid Strategies in the fourth quarter valued at about $15,167,000. Pantera Capital Partners LP bought a new position in shares of Hyperliquid Strategies in the fourth quarter valued at about $14,545,000. Feynman Point Asset Management LLC bought a new position in shares of Hyperliquid Strategies in the fourth quarter valued at about $14,431,000. Finally, OLP CAPITAL MANAGEMENT Ltd bought a new position in shares of Hyperliquid Strategies in the first quarter valued at about $10,459,000. 9.45% of the stock is 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.