Hyperliquid Strategies (NASDAQ:PURR) Shares Up 10.7% – Should You Buy?

Hyperliquid Strategies Inc (NASDAQ:PURR) shot up 10.7% on Friday . The stock traded as high as $9.27 and last traded at $9.4550. 6,678,021 shares were traded during mid-day trading, an increase of 11% from the average session volume of 6,004,634 shares. The stock had previously closed at $8.54.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PURR. Weiss Ratings upgraded Hyperliquid Strategies from a “sell (e)” rating to a “sell (d)” rating in a report on Wednesday, May 20th. Maxim Group began coverage on Hyperliquid Strategies in a report on Friday, April 24th. They issued a “buy” rating and a $10.00 price target on the stock. Chardan Capital increased their price target on Hyperliquid Strategies from $8.45 to $9.75 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Wall Street Zen upgraded Hyperliquid Strategies to a “hold” rating in a report on Saturday, February 21st. Finally, Cantor Fitzgerald increased their price target on Hyperliquid Strategies from $6.00 to $8.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.25.

Hyperliquid Strategies Stock Up 17.0%

The stock has a fifty day simple moving average of $6.33. The stock has a market cap of $1.44 billion, a P/E ratio of -1.36 and a beta of 1.44.

Hyperliquid Strategies (NASDAQ:PURR) last released its quarterly earnings data on Thursday, May 7th. The company reported $1.01 EPS for the quarter. The firm had revenue of $2.63 million for the quarter. As a group, analysts predict that Hyperliquid Strategies Inc will post -0.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. OLP CAPITAL MANAGEMENT Ltd purchased a new position in Hyperliquid Strategies during the 1st quarter worth $10,459,000. Bank of America Corp DE increased its holdings in Hyperliquid Strategies by 896.4% during the 1st quarter. Bank of America Corp DE now owns 238,080 shares of the company’s stock worth $1,212,000 after purchasing an additional 214,187 shares during the period. Maplelane Capital LLC purchased a new position in Hyperliquid Strategies during the 1st quarter worth $2,927,000. Galaxy Digital Inc. purchased a new position in Hyperliquid Strategies during the 1st quarter worth $4,581,000. Finally, Bank of Nova Scotia purchased a new position in Hyperliquid Strategies during the 1st quarter worth $204,000. 9.45% of the stock is currently owned by hedge funds and other institutional investors.

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.