Hyperliquid Strategies (NASDAQ:PURR) Sees Large Volume Increase – Time to Buy?

Hyperliquid Strategies Inc (NASDAQ:PURR) saw strong trading volume on Thursday . 5,496,778 shares traded hands during trading, a decline of 20% from the previous session’s volume of 6,898,624 shares.The stock last traded at $9.6560 and had previously closed at $10.37.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Maxim Group started coverage on Hyperliquid Strategies in a research report on Friday, April 24th. They issued a “buy” rating and a $10.00 price objective for the company. Chardan Capital upped their price target on Hyperliquid Strategies from $8.45 to $9.75 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Weiss Ratings raised Hyperliquid Strategies from a “sell (e)” rating to a “sell (d)” rating in a research report on Wednesday, May 20th. Wall Street Zen upgraded Hyperliquid Strategies to a “hold” rating in a research note on Saturday, February 21st. Finally, Cantor Fitzgerald lifted 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. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.25.

Hyperliquid Strategies Stock Down 6.1%

The firm has a market capitalization of $1.41 billion, a P/E ratio of -1.32 and a beta of 1.64. The firm’s fifty day simple moving average is $6.65.

Hyperliquid Strategies (NASDAQ:PURR) last released 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. Analysts forecast that Hyperliquid Strategies Inc will post -0.75 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its stake 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 acquiring an additional 214,187 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Hyperliquid Strategies in the first quarter worth approximately $142,000. Bank of Nova Scotia bought a new stake in shares of Hyperliquid Strategies during the first quarter valued at approximately $204,000. OLP CAPITAL MANAGEMENT Ltd bought a new stake in shares of Hyperliquid Strategies in the 1st quarter worth $10,459,000. Finally, Galaxy Digital Inc. bought a new stake in shares of Hyperliquid Strategies in the 1st quarter worth $4,581,000. Institutional investors and hedge funds own 9.45% of the company’s stock.

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.