Hyperliquid Strategies (NASDAQ:PURR) Sees Unusually-High Trading Volume Following Analyst Upgrade

Hyperliquid Strategies Inc (NASDAQ:PURR) saw unusually-strong trading volume on Wednesday after Chardan Capital raised their price target on the stock from $8.45 to $9.75. Chardan Capital currently has a buy rating on the stock. Approximately 3,233,629 shares changed hands during trading, a decline of 38% from the previous session’s volume of 5,192,967 shares.The stock last traded at $7.9790 and had previously closed at $7.79.

PURR has been the subject of a number of other research reports. Maxim Group started coverage on Hyperliquid Strategies in a research report on Friday, April 24th. They set a “buy” rating and a $10.00 price objective for the company. Cantor Fitzgerald upped 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. Wall Street Zen raised shares of Hyperliquid Strategies to a “hold” rating in a report on Saturday, February 21st. Finally, 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. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.25.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Boothbay Fund Management LLC purchased a new stake in Hyperliquid Strategies in the 4th quarter worth approximately $40,000. XTX Topco Ltd purchased a new position in Hyperliquid Strategies during the fourth quarter valued at approximately $48,000. Private Advisor Group LLC bought a new position in shares of Hyperliquid Strategies in the first quarter worth approximately $83,000. Squarepoint Ops LLC bought a new position in shares of Hyperliquid Strategies in the fourth quarter worth approximately $73,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Hyperliquid Strategies in the first quarter worth $117,000. 9.45% of the stock is currently owned by institutional investors.

Hyperliquid Strategies Price Performance

The firm’s 50-day simple moving average is $5.90. The stock has a market cap of $1.09 billion, a PE ratio of -1.07 and a beta of 1.44.

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 business had revenue of $2.63 million during the quarter. As a group, equities research analysts anticipate that Hyperliquid Strategies Inc will post -1.15 EPS for the current year.

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.