Hyperliquid Strategies (NASDAQ:PURR) Stock Price Down 9.7% – Should You Sell?

Hyperliquid Strategies Inc (NASDAQ:PURR) shares traded down 9.7% on Friday. The company traded as low as $10.92 and last traded at $11.1030. 6,206,638 shares changed hands during trading, a decline of 48% from the average session volume of 11,914,632 shares. The stock had previously closed at $12.29.

Wall Street Analyst Weigh In

PURR has been the subject of several research analyst reports. Chardan Capital boosted their price target on shares of Hyperliquid Strategies from $9.75 to $17.00 and gave the company a “buy” rating in a report on Friday, August 28th. Weiss Ratings lowered Hyperliquid Strategies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. Wall Street Zen lowered shares of Hyperliquid Strategies from a “hold” rating to a “sell” rating in a research note on Sunday, October 11th. Compass Point started coverage on shares of Hyperliquid Strategies in a report on Monday, September 14th. They issued a “buy” rating and a $18.00 price target for the company. Finally, Cantor Fitzgerald raised their price objective on shares of Hyperliquid Strategies from $22.60 to $34.20 and gave the stock an “overweight” rating in a report on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $19.80.

Hyperliquid Strategies Stock Down 9.9%

The firm has a market cap of $3.08 billion, a PE ratio of -1.73 and a beta of 1.89. The stock’s fifty day simple moving average is $11.41 and its two-hundred day simple moving average is $7.97.

Institutional Trading of Hyperliquid Strategies

A number of hedge funds and other institutional investors have recently made changes to their positions in PURR. Galaxy Digital Inc. acquired a new stake in Hyperliquid Strategies in the 1st quarter worth about $4,581,000. Militia Capital Management LLC acquired a new position in shares of Hyperliquid Strategies in the 1st quarter worth $3,323,000. Maplelane Capital LLC purchased a new position in Hyperliquid Strategies during the first quarter valued at approximately $2,927,000. OLP CAPITAL MANAGEMENT Ltd bought a new position in Hyperliquid Strategies during the first quarter valued at about $10,459,000. Finally, Wellington Management Group LLP bought a new stake in Hyperliquid Strategies during the 2nd quarter valued at approximately $716,000. 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.