Hyperliquid Strategies Inc (NASDAQ:PURR – Get Free Report)’s stock price traded up 10.4% during trading on Tuesday. The company traded as high as $10.06 and last traded at $10.0150. 6,439,115 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 11,700,438 shares. The stock had previously closed at $9.07.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on PURR. Compass Point initiated coverage on shares of Hyperliquid Strategies in a report on Monday, September 14th. They set a “buy” rating and a $18.00 price objective on the stock. Wall Street Zen downgraded Hyperliquid Strategies from a “hold” rating to a “sell” rating in a research note on Sunday, October 11th. Chardan Capital boosted their target price on Hyperliquid Strategies from $9.75 to $17.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Cantor Fitzgerald upped their price target on Hyperliquid Strategies from $22.60 to $34.20 and gave the stock an “overweight” rating in a research note on Thursday, September 10th. Finally, Weiss Ratings downgraded Hyperliquid Strategies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $19.80.
Read Our Latest Research Report on Hyperliquid Strategies
Hyperliquid Strategies Stock Performance
The stock’s 50 day simple moving average is $11.20 and its 200 day simple moving average is $7.92. The firm has a market cap of $2.75 billion, a P/E ratio of -1.54 and a beta of 1.89.
Institutional Investors Weigh In On Hyperliquid Strategies
Several hedge funds and other institutional investors have recently made changes to their positions in PURR. BlackRock Inc. bought a new position in Hyperliquid Strategies in the 2nd quarter valued at about $79,842,000. Paradigm Operations LP purchased a new stake in shares of Hyperliquid Strategies in the second quarter worth approximately $44,936,535. OLP CAPITAL MANAGEMENT Ltd bought a new position in shares of Hyperliquid Strategies in the first quarter valued at approximately $10,459,000. Galaxy Digital Inc. bought a new position in shares of Hyperliquid Strategies in the first quarter valued at approximately $4,581,000. Finally, Wealth High Governance Capital Ltda bought a new position in shares of Hyperliquid Strategies in the second quarter valued at approximately $6,517,000. 9.45% of the stock is owned by institutional investors.
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.
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