Hyperliquid Strategies (NASDAQ:PURR) Stock Price Down 6.4% – Here’s Why

Hyperliquid Strategies Inc (NASDAQ:PURR) traded down 6.4% during trading on Thursday . The company traded as low as $11.29 and last traded at $11.2590. 8,344,465 shares changed hands during trading, a decline of 21% from the average session volume of 10,588,859 shares. The stock had previously closed at $12.03.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PURR. Wall Street Zen downgraded shares of Hyperliquid Strategies from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Chardan Capital lifted their target price on shares of Hyperliquid Strategies from $9.75 to $17.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Cantor Fitzgerald increased their price target on Hyperliquid Strategies from $22.60 to $34.20 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Weiss Ratings upgraded Hyperliquid Strategies from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, August 28th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.40.

Hyperliquid Strategies Trading Down 7.0%

The firm has a 50 day moving average price of $8.45 and a two-hundred day moving average price of $7.32. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -1.74 and a beta of 1.89.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Hyperliquid Strategies during the 2nd quarter valued at approximately $79,842,000. Paradigm Operations LP acquired a new position in shares of Hyperliquid Strategies in the 2nd quarter valued at about $44,936,535. Galaxy Group Investments LLC acquired a new position in Hyperliquid Strategies in the fourth quarter valued at approximately $15,167,000. Pantera Capital Partners LP bought a new position in Hyperliquid Strategies during the 4th quarter worth $14,545,000. Finally, Feynman Point Asset Management LLC bought a new position in shares of Hyperliquid Strategies during the fourth quarter worth about $14,431,000. 9.45% of the stock is owned by institutional investors and hedge funds.

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.