Saba Capital Management L.P. Sells 228,701 Shares of Hyperliquid Strategies Inc $PURR

Saba Capital Management L.P. cut its position in Hyperliquid Strategies Inc (NASDAQ:PURR) by 32.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 471,964 shares of the company’s stock after selling 228,701 shares during the quarter. Saba Capital Management L.P.’s holdings in Hyperliquid Strategies were worth $2,402,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PURR. Boothbay Fund Management LLC bought a new stake in Hyperliquid Strategies in the fourth quarter valued at approximately $40,000. XTX Topco Ltd bought a new stake in Hyperliquid Strategies in the 4th quarter valued at $48,000. Private Advisor Group LLC acquired a new stake in Hyperliquid Strategies during the 1st quarter valued at $83,000. Squarepoint Ops LLC bought a new position in Hyperliquid Strategies during the fourth quarter worth $73,000. Finally, SG Americas Securities LLC bought a new position in Hyperliquid Strategies during the first quarter worth $117,000. 9.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on PURR. Weiss Ratings upgraded shares of Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 3rd. Cantor Fitzgerald increased their target price on Hyperliquid Strategies from $8.00 to $18.40 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Maxim Group initiated coverage on Hyperliquid Strategies in a report on Friday, April 24th. They set a “buy” rating and a $10.00 price target for the company. Finally, Chardan Capital restated a “buy” rating and issued a $9.75 price target on shares of Hyperliquid Strategies in a research note on Friday, June 12th. 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.72.

Hyperliquid Strategies Trading Up 2.4%

Shares of PURR opened at $6.34 on Tuesday. The stock has a 50-day moving average price of $8.26. Hyperliquid Strategies Inc has a 12-month low of $3.01 and a 12-month high of $11.62. The firm has a market cap of $915.81 million, a PE ratio of -0.86 and a beta of 1.66.

Hyperliquid Strategies (NASDAQ:PURR) last released its quarterly earnings results on Thursday, May 7th. The company reported $1.01 earnings per share (EPS) for the quarter. The business had revenue of $2.63 million for the quarter. As a group, equities analysts forecast that Hyperliquid Strategies Inc will post 2.1 earnings per share for the current fiscal year.

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.