Hyperliquid Strategies (NASDAQ:PURR) Sets New 1-Year High – Here’s Why

Hyperliquid Strategies Inc (NASDAQ:PURR) shares hit a new 52-week high on Wednesday . The stock traded as high as $12.10 and last traded at $11.87, with a volume of 29708674 shares trading hands. The stock had previously closed at $10.64.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PURR. Chardan Capital reissued a “buy” rating and set a $9.75 price target on shares of Hyperliquid Strategies in a research note on Friday, June 12th. Weiss Ratings raised Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 3rd. Finally, 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 report on Wednesday, July 1st. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.72.

Hyperliquid Strategies Trading Up 11.6%

The company has a market capitalization of $1.71 billion, a PE ratio of -1.61 and a beta of 1.71. The stock has a 50-day moving average of $7.70.

Institutional Trading of Hyperliquid Strategies

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Boothbay Fund Management LLC acquired a new position in Hyperliquid Strategies in the fourth quarter valued at $40,000. State of Wyoming purchased a new stake in Hyperliquid Strategies during the second quarter valued at about $46,000. XTX Topco Ltd acquired a new stake in Hyperliquid Strategies during the fourth quarter worth about $48,000. Squarepoint Ops LLC purchased a new position in shares of Hyperliquid Strategies in the 4th quarter worth about $73,000. Finally, Shepherd Financial Partners LLC purchased a new position in shares of Hyperliquid Strategies in the 2nd quarter worth about $79,000. 9.45% of the stock is currently owned by institutional investors and hedge funds.

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.