Hyperliquid Strategies (NASDAQ:PURR) Trading Down 5.6% – Here’s What Happened

Hyperliquid Strategies Inc (NASDAQ:PURR)’s share price traded down 5.6% during mid-day trading on Tuesday . The company traded as low as $11.23 and last traded at $11.5580. 8,357,166 shares traded hands during trading, a decline of 17% from the average session volume of 10,087,396 shares. The stock had previously closed at $12.25.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PURR. Weiss Ratings upgraded Hyperliquid Strategies from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday. Chardan Capital upped their price objective on Hyperliquid Strategies from $9.75 to $17.00 and gave the company a “buy” rating in a report on Friday. Wall Street Zen cut Hyperliquid Strategies from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Cantor Fitzgerald set a $22.60 target price on Hyperliquid Strategies and gave the company an “overweight” rating in a research report on Thursday. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Hyperliquid Strategies presently has an average rating of “Moderate Buy” and an average target price of $16.53.

Hyperliquid Strategies Price Performance

The business’s 50 day moving average is $7.92 and its 200 day moving average is $6.94. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -1.51 and a beta of 1.71.

Institutional Investors Weigh In On Hyperliquid Strategies

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Hyperliquid Strategies in the 2nd quarter worth approximately $79,842,000. Paradigm Operations LP bought a new position in shares of Hyperliquid Strategies during the 4th quarter worth about $20,327,000. Galaxy Group Investments LLC bought a new position in Hyperliquid Strategies during the fourth quarter valued at about $15,167,000. Pantera Capital Partners LP acquired a new stake in shares of Hyperliquid Strategies during the 4th quarter valued at about $14,545,000. Finally, Feynman Point Asset Management LLC acquired a new stake in Hyperliquid Strategies in the 4th quarter valued at $14,431,000. 9.45% of the stock is 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.