Hyperliquid Strategies (NASDAQ:PURR) Stock Price Up 6% – Still a Buy?

Shares of Hyperliquid Strategies Inc (NASDAQ:PURR) were up 6% during trading on Wednesday. The company traded as high as $9.71 and last traded at $9.6970. Approximately 3,440,418 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 11,697,617 shares. The stock had previously closed at $9.15.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PURR shares. Compass Point initiated coverage on Hyperliquid Strategies in a research note on Monday, September 14th. They issued a “buy” rating and a $18.00 price objective on the stock. Chardan Capital raised their price objective on shares of Hyperliquid Strategies from $9.75 to $17.00 and gave the stock a “buy” rating in a report on Friday, August 28th. Wall Street Zen downgraded Hyperliquid Strategies from a “hold” rating to a “sell” rating in a research report on Sunday, October 11th. Weiss Ratings upgraded shares of Hyperliquid Strategies from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Finally, Cantor Fitzgerald upped their price target on Hyperliquid Strategies from $22.60 to $34.20 and gave the company an “overweight” rating in a research note on Thursday, September 10th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $19.80.

Hyperliquid Strategies Stock Down 9.8%

The company’s 50 day simple moving average is $11.26 and its 200 day simple moving average is $8.74.

Hedge Funds Weigh In On Hyperliquid Strategies

Several institutional investors have recently modified their holdings of PURR. BlackRock Inc. bought a new stake in Hyperliquid Strategies in the 2nd quarter valued at $79,842,000. Paradigm Operations LP bought a new position in Hyperliquid Strategies in the second quarter valued at approximately $44,936,535. OLP CAPITAL MANAGEMENT Ltd bought a new position in shares of Hyperliquid Strategies in the first quarter valued at $10,459,000. Galaxy Digital Inc. bought a new position in shares of Hyperliquid Strategies in the 1st quarter valued at about $4,581,000. Finally, Wealth High Governance Capital Ltda bought a new position in Hyperliquid Strategies during the second quarter worth about $6,517,000. Institutional investors own 9.45% of the company’s stock.

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.