Hyperliquid Strategies (NASDAQ:PURR) Shares Down 7.7% – Time to Sell?

Hyperliquid Strategies Inc (NASDAQ:PURR)’s stock price dropped 7.7% during trading on Tuesday . The stock traded as low as $5.70 and last traded at $5.6950. Approximately 3,559,483 shares traded hands during trading, a decline of 18% from the average daily volume of 4,366,784 shares. The stock had previously closed at $6.17.

Analyst Upgrades and Downgrades

PURR has been the subject of several recent research reports. Wall Street Zen raised shares of Hyperliquid Strategies to a “hold” rating in a research report on Saturday, February 21st. Chardan Capital boosted their target price on shares of Hyperliquid Strategies from $8.15 to $8.45 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Weiss Ratings initiated coverage on shares of Hyperliquid Strategies in a research report on Monday, March 2nd. They set a “sell (e)” rating for the company. Finally, Cantor Fitzgerald raised shares of Hyperliquid Strategies to a “strong-buy” rating in a research report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.23.

Hyperliquid Strategies Stock Down 2.8%

The business has a 50-day moving average price of $5.16. The stock has a market capitalization of $740.10 million, a price-to-earnings ratio of -0.64 and a beta of 1.38.

Hyperliquid Strategies (NASDAQ:PURR) last issued its quarterly earnings data on Wednesday, February 11th. The company reported ($7.43) earnings per share (EPS) for the quarter. The business had revenue of $0.50 million for the quarter. As a group, sell-side analysts forecast that Hyperliquid Strategies Inc will post -1.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hyperliquid Strategies

Hedge funds have recently modified their holdings of the stock. Boothbay Fund Management LLC bought a new stake in shares of Hyperliquid Strategies in the 4th quarter worth approximately $40,000. XTX Topco Ltd bought a new stake in shares of Hyperliquid Strategies in the 4th quarter worth approximately $48,000. Squarepoint Ops LLC bought a new stake in shares of Hyperliquid Strategies in the 4th quarter worth approximately $73,000. Millennium Management LLC bought a new stake in shares of Hyperliquid Strategies in the 4th quarter worth approximately $87,000. Finally, Ikarian Capital LLC bought a new stake in shares of Hyperliquid Strategies in the 4th quarter worth approximately $107,000. Institutional investors own 9.45% of the company’s stock.

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.