Hyperliquid Strategies (NASDAQ:PURR) Price Target Raised to $18.40

Hyperliquid Strategies (NASDAQ:PURR) had its target price hoisted by research analysts at Cantor Fitzgerald from $8.00 to $18.40 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 128.94% from the stock’s previous close.

PURR has been the topic of a number of other research reports. Weiss Ratings upgraded shares of Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 3rd. Chardan Capital reiterated a “buy” rating and issued a $9.75 price target on shares of Hyperliquid Strategies in a research note on Friday, June 12th. Finally, Maxim Group started coverage on shares of Hyperliquid Strategies in a research note on Friday, April 24th. They issued a “buy” rating and a $10.00 target price on the stock. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.72.

Hyperliquid Strategies Stock Up 2.1%

NASDAQ:PURR traded up $0.17 during trading hours on Wednesday, hitting $8.04. The company had a trading volume of 2,562,615 shares, compared to its average volume of 8,481,413. The company’s 50-day simple moving average is $7.88. The firm has a market cap of $1.16 billion, a P/E ratio of -1.10 and a beta of 1.64. Hyperliquid Strategies has a 52 week low of $3.01 and a 52 week high of $11.62.

Hyperliquid Strategies (NASDAQ:PURR) last announced its earnings results on Thursday, May 7th. The company reported $1.01 earnings per share (EPS) for the quarter. The firm had revenue of $2.63 million during the quarter. On average, sell-side analysts forecast that Hyperliquid Strategies will post 2.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Hyperliquid Strategies

A number of institutional investors and hedge funds have recently made changes to their positions in PURR. Boothbay Fund Management LLC bought a new position in Hyperliquid Strategies in the fourth quarter worth approximately $40,000. XTX Topco Ltd purchased a new stake in shares of Hyperliquid Strategies in the 4th quarter worth $48,000. Squarepoint Ops LLC purchased a new stake in shares of Hyperliquid Strategies in the 4th quarter worth $73,000. Private Advisor Group LLC bought a new position in Hyperliquid Strategies in the 1st quarter worth $83,000. Finally, Millennium Management LLC bought a new position in Hyperliquid Strategies in the 4th quarter worth $87,000. Hedge funds and other institutional investors own 9.45% of the company’s stock.

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.