Hyperliquid Strategies (NASDAQ:PURR) Stock Price Up 10.4% – Here’s Why

by · The Markets Daily

Hyperliquid Strategies Inc (NASDAQ:PURR – Get Free Report) shot up 10.4% during trading on Tuesday. The company traded as high as $10.06 and last traded at $10.0150. Approximately 6,439,115 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 11,700,438 shares. The stock had previously closed at $9.07.

Analyst Upgrades and Downgrades

PURR has been the topic of a number of analyst reports. Wall Street Zen downgraded shares of Hyperliquid Strategies from a “hold” rating to a “sell” rating in a report on Sunday, October 11th. Cantor Fitzgerald increased their target price on shares of Hyperliquid Strategies from $22.60 to $34.20 and gave the company an “overweight” rating in a report on Thursday, September 10th. Chardan Capital increased their target price 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. Compass Point initiated coverage on shares of Hyperliquid Strategies in a research report on Monday, September 14th. They set a “buy” rating and a $18.00 price target on the stock. Finally, Weiss Ratings cut shares of Hyperliquid Strategies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Hyperliquid Strategies currently has an average rating of “Buy” and a consensus price target of $19.80.

Check Out Our Latest Stock Report on PURR

Hyperliquid Strategies Price Performance

The company has a market capitalization of $2.75 billion, a P/E ratio of -1.54 and a beta of 1.89. The firm has a fifty day moving average price of $11.20 and a 200-day moving average price of $7.92.

Institutional Investors Weigh In On Hyperliquid Strategies

Hedge funds have recently made changes to their positions in the business. State of Wyoming purchased a new position in shares of Hyperliquid Strategies in the 2nd quarter worth about $46,000. Sterling Capital Management LLC increased its holdings in Hyperliquid Strategies by 48.5% during the third quarter. Sterling Capital Management LLC now owns 3,762 shares of the company’s stock worth $46,000 after buying an additional 1,229 shares during the last quarter. Vima LLC raised its position in Hyperliquid Strategies by 202.7% in the third quarter. Vima LLC now owns 5,364 shares of the company’s stock worth $66,000 after acquiring an additional 3,592 shares during the period. Shepherd Financial Partners LLC bought a new stake in Hyperliquid Strategies in the second quarter worth about $79,000. Finally, Private Advisor Group LLC bought a new stake in Hyperliquid Strategies in the first quarter worth about $83,000. 9.45% of the stock is currently owned by institutional investors.

Hyperliquid Strategies Company Profile

(Get Free Report)

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.

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