Hyperliquid Strategies (NASDAQ:PURR) Shares Down 5% – Here’s What Happened

Hyperliquid Strategies Inc (NASDAQ:PURR)’s share price traded down 5% on Tuesday . The stock traded as low as $8.04 and last traded at $8.0460. 864,991 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 8,452,148 shares. The stock had previously closed at $8.47.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PURR. Cantor Fitzgerald boosted their price objective on shares of Hyperliquid Strategies from $6.00 to $8.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Weiss Ratings raised Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 3rd. Maxim Group initiated coverage on Hyperliquid Strategies in a report on Friday, April 24th. They set a “buy” rating and a $10.00 price objective for the company. Finally, Chardan Capital restated a “buy” rating and issued a $9.75 target price on shares of Hyperliquid Strategies in a research note on Friday, June 12th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $9.25.

Hyperliquid Strategies Price Performance

The firm has a market cap of $1.14 billion, a P/E ratio of -1.07 and a beta of 1.64. The firm has a 50 day moving average price of $7.85.

Hyperliquid Strategies (NASDAQ:PURR) last released its earnings results on Thursday, May 7th. The company reported $1.01 earnings per share (EPS) for the quarter. The company had revenue of $2.63 million for the quarter. On average, equities analysts anticipate that Hyperliquid Strategies Inc will post 2.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PURR. EHP Funds Inc. bought a new position in Hyperliquid Strategies during the fourth quarter worth $302,000. HRT Financial LP acquired a new position in shares of Hyperliquid Strategies in the fourth quarter valued at approximately $856,000. Jane Street Group LLC acquired a new stake in Hyperliquid Strategies during the 4th quarter worth approximately $339,000. GM Advisory Group LLC acquired a new position in Hyperliquid Strategies in the 4th quarter valued at $2,946,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of Hyperliquid Strategies during the fourth quarter worth $156,000. 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.