Hyperliquid Strategies (NASDAQ:PURR) Trading 11.6% Higher – Time to Buy?

Shares of Hyperliquid Strategies Inc (NASDAQ:PURR) rose 11.6% during trading on Wednesday . The stock traded as high as $8.00 and last traded at $8.0340. 11,199,375 shares were traded during mid-day trading, an increase of 32% from the average session volume of 8,499,441 shares. The stock had previously closed at $7.20.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PURR. Maxim Group assumed coverage on Hyperliquid Strategies in a research report on Friday, April 24th. They issued a “buy” rating and a $10.00 price target for the company. Weiss Ratings raised shares of Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 3rd. Chardan Capital reaffirmed a “buy” rating and set a $9.75 price objective on shares of Hyperliquid Strategies in a research report on Friday, June 12th. Finally, Cantor Fitzgerald upped their target price on Hyperliquid Strategies from $8.00 to $18.40 and gave the company an “overweight” rating in a research report on Wednesday, July 1st. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.72.

Hyperliquid Strategies Trading Up 7.3%

The stock’s fifty day moving average price is $7.60. The firm has a market cap of $1.46 billion, a P/E ratio of -1.37 and a beta of 1.71.

Institutional Trading of Hyperliquid Strategies

Institutional investors and hedge funds have recently bought and sold shares of the business. Boothbay Fund Management LLC purchased a new stake in shares of Hyperliquid Strategies during the fourth quarter worth approximately $40,000. State of Wyoming acquired a new stake in shares of Hyperliquid Strategies in the 2nd quarter valued at about $46,000. XTX Topco Ltd purchased a new position in shares of Hyperliquid Strategies during the fourth quarter worth approximately $48,000. Squarepoint Ops LLC acquired a new position in Hyperliquid Strategies in the fourth quarter valued at $73,000. Finally, Shepherd Financial Partners LLC acquired a new stake in Hyperliquid Strategies during the 2nd quarter worth approximately $79,000. 9.45% of the stock is currently owned by hedge funds and other institutional investors.

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.