Hyperliquid Strategies Inc (NASDAQ:PURR) Sees Significant Growth in Short Interest

Hyperliquid Strategies Inc (NASDAQ:PURR) was the target of a large increase in short interest in June. As of June 15th, there was short interest totaling 14,570,470 shares, an increase of 82.9% from the May 31st total of 7,968,381 shares. Based on an average daily trading volume, of 20,808,955 shares, the short-interest ratio is currently 0.7 days. Approximately 11.0% of the company’s stock are sold short.

Hedge Funds Weigh In On Hyperliquid Strategies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Paradigm Operations LP purchased a new position in shares of Hyperliquid Strategies during the 4th quarter worth approximately $20,327,000. Galaxy Group Investments LLC purchased a new stake in shares of Hyperliquid Strategies in the fourth quarter valued at approximately $15,167,000. Pantera Capital Partners LP acquired a new position in Hyperliquid Strategies during the fourth quarter worth $14,545,000. Feynman Point Asset Management LLC acquired a new position in Hyperliquid Strategies during the fourth quarter worth $14,431,000. Finally, OLP CAPITAL MANAGEMENT Ltd purchased a new position in Hyperliquid Strategies in the first quarter worth $10,459,000. Institutional investors and hedge funds own 9.45% of the company’s stock.

Hyperliquid Strategies Price Performance

PURR stock opened at $8.21 on Thursday. The firm has a market cap of $1.19 billion, a PE ratio of -1.11 and a beta of 1.67. The stock has a fifty day moving average price of $7.92. Hyperliquid Strategies has a one year low of $3.01 and a one year high of $11.62.

Hyperliquid Strategies (NASDAQ:PURR) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.01 earnings per share (EPS) for the quarter. The firm had revenue of $2.63 million for the quarter. Equities research analysts forecast that Hyperliquid Strategies will post 2.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Weiss Ratings raised Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 3rd. Maxim Group assumed coverage on Hyperliquid Strategies in a report on Friday, April 24th. They issued a “buy” rating and a $10.00 target price for the company. 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. Finally, Chardan Capital restated a “buy” rating and set a $9.75 price target on shares of Hyperliquid Strategies in a research note on Friday, June 12th. 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.com, Hyperliquid Strategies has an average rating of “Moderate Buy” and an average target price of $12.72.

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.