Hyperliquid Strategies (NASDAQ:PURR) Sees Large Volume Increase – Time to Buy?

Hyperliquid Strategies Inc (NASDAQ:PURR) saw unusually-strong trading volume on Thursday . Approximately 5,496,778 shares changed hands during mid-day trading, a decline of 20% from the previous session’s volume of 6,898,624 shares.The stock last traded at $9.6560 and had previously closed at $10.37.

Analyst Ratings Changes

PURR has been the subject of several research analyst reports. Wall Street Zen upgraded Hyperliquid Strategies to a “hold” rating in a report on Saturday, February 21st. Chardan Capital upped their price objective on Hyperliquid Strategies from $8.45 to $9.75 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Cantor Fitzgerald raised their target price on Hyperliquid Strategies from $6.00 to $8.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Weiss Ratings raised Hyperliquid Strategies from a “sell (e)” rating to a “sell (d)” rating in a report on Wednesday, May 20th. Finally, Maxim Group initiated coverage on Hyperliquid Strategies in a research note on Friday, April 24th. They issued a “buy” rating and a $10.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $9.25.

Hyperliquid Strategies Stock Down 6.1%

The firm has a fifty day simple moving average of $6.65. The company has a market cap of $1.41 billion, a P/E ratio of -1.32 and a beta of 1.64.

Hyperliquid Strategies (NASDAQ:PURR) last posted its quarterly earnings data on Thursday, May 7th. The company reported $1.01 EPS for the quarter. The firm had revenue of $2.63 million during the quarter. Analysts forecast that Hyperliquid Strategies Inc will post -0.75 EPS for the current year.

Institutional Investors Weigh In On Hyperliquid Strategies

Several large investors have recently bought and sold shares of PURR. Bank of America Corp DE increased its stake in Hyperliquid Strategies by 896.4% in the 1st quarter. Bank of America Corp DE now owns 238,080 shares of the company’s stock worth $1,212,000 after buying an additional 214,187 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Hyperliquid Strategies during the 1st quarter valued at approximately $142,000. Bank of Nova Scotia bought a new position in shares of Hyperliquid Strategies during the 1st quarter valued at approximately $204,000. OLP CAPITAL MANAGEMENT Ltd purchased a new position in shares of Hyperliquid Strategies during the first quarter valued at approximately $10,459,000. Finally, Galaxy Digital Inc. purchased a new position in shares of Hyperliquid Strategies during the first quarter valued at approximately $4,581,000. 9.45% of the stock is currently owned by institutional investors.

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.