Hyperliquid Strategies (NASDAQ:PURR) Reaches New 12-Month High – Should You Buy?

Shares of Hyperliquid Strategies Inc (NASDAQ:PURR) reached a new 52-week high on Wednesday . The company traded as high as $5.92 and last traded at $5.6620, with a volume of 2342279 shares. The stock had previously closed at $5.33.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PURR. Chardan Capital boosted their target price on shares of Hyperliquid Strategies from $8.15 to $8.45 and gave the company a “buy” rating in a research note on Thursday, February 12th. Wall Street Zen raised Hyperliquid Strategies to a “hold” rating in a report on Saturday, February 21st. Cantor Fitzgerald boosted their price objective on Hyperliquid Strategies from $5.00 to $6.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Finally, Weiss Ratings assumed coverage on Hyperliquid Strategies in a report on Monday, March 2nd. They issued a “sell (e)” rating for the company. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Hyperliquid Strategies has an average rating of “Hold” and a consensus price target of $7.23.

Hyperliquid Strategies Trading Up 14.3%

The company has a market cap of $754.98 million, a P/E ratio of -0.66 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 for the quarter. The firm had revenue of $0.50 million for the quarter.

Hedge Funds Weigh In On Hyperliquid Strategies

Hedge funds have recently modified their holdings of the company. Boothbay Fund Management LLC acquired a new stake in shares of Hyperliquid Strategies in the fourth quarter valued at $40,000. XTX Topco Ltd acquired a new position in Hyperliquid Strategies during the fourth quarter worth about $48,000. Squarepoint Ops LLC bought a new stake in Hyperliquid Strategies in the fourth quarter worth about $73,000. Millennium Management LLC bought a new stake in Hyperliquid Strategies in the fourth quarter worth about $87,000. Finally, Ikarian Capital LLC acquired a new stake in Hyperliquid Strategies in the 4th quarter valued at about $107,000. 9.45% of the stock is currently owned by institutional investors and hedge funds.

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.