Hyperliquid Strategies (NASDAQ:PURR) Trading 16.4% Higher – Here’s Why

Shares of Hyperliquid Strategies Inc (NASDAQ:PURR) were up 16.4% during mid-day trading on Monday . The company traded as high as $4.97 and last traded at $4.75. Approximately 2,292,344 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 2,935,492 shares. The stock had previously closed at $4.08.

Wall Street Analyst Weigh In

PURR has been the subject of a number of research reports. Cantor Fitzgerald lifted their target price on Hyperliquid Strategies from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Wall Street Zen upgraded shares of Hyperliquid Strategies to a “hold” rating in a research report on Saturday, February 21st. Finally, Chardan Capital increased their price target on Hyperliquid Strategies from $8.15 to $8.45 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $7.23.

Hyperliquid Strategies Trading Up 18.9%

The company has a market capitalization of $601.25 million, a PE ratio of -0.52 and a beta of 1.58.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PURR. Boothbay Fund Management LLC purchased a new stake in Hyperliquid Strategies during the 4th quarter worth approximately $40,000. XTX Topco Ltd purchased a new stake in shares of Hyperliquid Strategies during the fourth quarter worth approximately $48,000. Squarepoint Ops LLC acquired a new position in Hyperliquid Strategies in the 4th quarter valued at $73,000. Millennium Management LLC purchased a new position in Hyperliquid Strategies in the 4th quarter valued at $87,000. Finally, Ikarian Capital LLC acquired a new stake in Hyperliquid Strategies during the 4th quarter worth $107,000. Institutional investors and hedge funds own 9.45% of the company’s stock.

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.