Hyperliquid Strategies (NASDAQ:PURR) Shares Down 13.4% – Here’s Why

Hyperliquid Strategies Inc (NASDAQ:PURR)’s stock price traded down 13.4% on Friday . The company traded as low as $8.30 and last traded at $8.2140. 10,151,268 shares traded hands during mid-day trading, an increase of 41% from the average session volume of 7,216,071 shares. The stock had previously closed at $9.49.

Wall Street Analysts Forecast Growth

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

Hyperliquid Strategies Price Performance

The company has a market cap of $1.21 billion, a PE ratio of -1.14 and a beta of 1.64. The stock has a fifty day moving average of $6.73.

Hyperliquid Strategies (NASDAQ:PURR) last announced its earnings results on Thursday, May 7th. The company reported $1.01 EPS for the quarter. The company had revenue of $2.63 million for the quarter. Equities research analysts forecast that Hyperliquid Strategies Inc will post -0.75 earnings per share for the current year.

Institutional Trading of Hyperliquid Strategies

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

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.