Hyperliquid Strategies' (PURR) "Buy" Rating Reaffirmed at Chardan Capital

Key Points

• Chardan Capital reaffirmed its “Buy” rating on Hyperliquid Strategies and set a $9.75 price target, implying 25.14% downside from the stock’s previous close.
• Analyst sentiment remains broadly positive, with three Buy ratings and one Sell rating; the consensus view is “Moderate Buy” with an average target price of $12.72.
• Shares opened at $13.03, with a market capitalization of approximately $1.88 billion, while institutional investors and hedge funds own 9.45% of the company.

Hyperliquid Strategies (NASDAQ:PURR - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Chardan Capital in a note issued to investors on Thursday,Benzinga reports. They currently have a $9.75 price objective on the stock. Chardan Capital's price objective would suggest a potential downside of 25.14% from the stock's previous close.

A number of other research analysts have also recently commented on the stock. Cantor Fitzgerald boosted their target price on shares of Hyperliquid Strategies from $8.00 to $18.40 and gave the stock an "overweight" rating in a research report on Wednesday, July 1st. Weiss Ratings raised shares of Hyperliquid Strategies from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, June 3rd. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Hyperliquid Strategies presently has an average rating of "Moderate Buy" and an average target price of $12.72.

Hyperliquid Strategies Stock Performance

NASDAQ PURR opened at $13.03 on Thursday. The stock has a market cap of $1.88 billion, a PE ratio of -1.74 and a beta of 1.71. Hyperliquid Strategies has a fifty-two week low of $3.01 and a fifty-two week high of $12.54. The business has a 50 day moving average of $7.74.

Institutional Investors Weigh In On Hyperliquid Strategies

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Hyperliquid Strategies in the second quarter worth about $79,842,000. Paradigm Operations LP acquired a new stake in Hyperliquid Strategies during the second quarter valued at approximately $44,936,535,000. Galaxy Group Investments LLC acquired a new stake in Hyperliquid Strategies during 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 approximately $14,545,000. Finally, Feynman Point Asset Management LLC bought a new position in Hyperliquid Strategies during the 4th quarter worth approximately $14,431,000. 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.

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