Hyperliquid Strategies (NASDAQ:PURR) Stock Price Down 5% – Here’s Why

Hyperliquid Strategies Inc (NASDAQ:PURR) dropped 5% during trading on Tuesday . The stock traded as low as $8.04 and last traded at $8.0460. Approximately 864,991 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 8,452,148 shares. The stock had previously closed at $8.47.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PURR shares. Maxim Group assumed coverage on Hyperliquid Strategies in a research note on Friday, April 24th. They set a “buy” rating and a $10.00 price target on the stock. Weiss Ratings raised shares of Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 3rd. Chardan Capital restated a “buy” rating and issued a $9.75 price objective on shares of Hyperliquid Strategies in a report on Friday, June 12th. Finally, Cantor Fitzgerald raised their price objective 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. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.25.

Hyperliquid Strategies Stock Down 6.9%

The company has a market capitalization of $1.14 billion, a P/E ratio of -1.07 and a beta of 1.64. The firm’s 50 day moving average price is $7.85.

Hyperliquid Strategies (NASDAQ:PURR) last released its quarterly earnings data on Thursday, May 7th. The company reported $1.01 earnings per share for the quarter. The firm had revenue of $2.63 million for the quarter. Analysts anticipate that Hyperliquid Strategies Inc will post 2.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hyperliquid Strategies

Several institutional investors and hedge funds have recently made changes to their positions in PURR. Paradigm Operations LP acquired a new stake in Hyperliquid Strategies during the 4th quarter worth $20,327,000. Galaxy Group Investments LLC acquired a new position in Hyperliquid Strategies in the fourth quarter valued at about $15,167,000. Pantera Capital Partners LP bought a new stake in shares of Hyperliquid Strategies in the fourth quarter worth about $14,545,000. Feynman Point Asset Management LLC bought a new stake in shares of Hyperliquid Strategies in the fourth quarter worth about $14,431,000. Finally, OLP CAPITAL MANAGEMENT Ltd acquired a new stake in shares of Hyperliquid Strategies during the first quarter worth about $10,459,000. 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.