Hyperliquid Strategies (NASDAQ:PURR) Sets New 12-Month High – Still a Buy?

Shares of Hyperliquid Strategies Inc (NASDAQ:PURR) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $6.88 and last traded at $6.7450, with a volume of 835339 shares changing hands. The stock had previously closed at $6.50.

Analyst Upgrades and Downgrades

PURR has been the subject of several research reports. Wall Street Zen upgraded Hyperliquid Strategies to a “hold” rating in a research report on Saturday, February 21st. Chardan Capital lifted their target price on shares of Hyperliquid Strategies from $8.15 to $8.45 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Weiss Ratings began coverage on shares of Hyperliquid Strategies in a research note 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 note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.23.

Hyperliquid Strategies Stock Up 4.2%

The business’s 50-day moving average price is $5.03. The stock has a market capitalization of $807.03 million, a P/E ratio of -0.70 and a beta of 1.38.

Hyperliquid Strategies (NASDAQ:PURR) last posted its quarterly earnings data on Wednesday, February 11th. The company reported ($7.43) earnings per share for the quarter. The business had revenue of $0.50 million for the quarter.

Institutional Investors Weigh In On Hyperliquid Strategies

A number of institutional investors have recently modified their holdings of the stock. Corient Private Wealth LLC acquired a new stake in shares of Hyperliquid Strategies in the 4th quarter valued at about $178,000. Feynman Point Asset Management LLC acquired a new stake in shares of Hyperliquid Strategies in the fourth quarter valued at approximately $14,431,000. Galaxy Group Investments LLC acquired a new stake in shares of Hyperliquid Strategies in the fourth quarter valued at approximately $15,167,000. XTX Topco Ltd bought a new position in shares of Hyperliquid Strategies in the fourth quarter valued at approximately $48,000. Finally, Ikarian Capital LLC bought a new position in shares of Hyperliquid Strategies in the fourth quarter valued at approximately $107,000. Institutional investors and hedge funds 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.