899,951 Shares in Hyperliquid Strategies Inc $PURR Acquired by Galaxy Digital Inc.

Key Points

• Galaxy Digital disclosed a new first-quarter position in Hyperliquid Strategies, buying 899,951 shares worth about $4.58 million. The stake represents roughly 0.67% of the company and about 0.4% of Galaxy Digital’s portfolio.
• Other hedge funds have also been building positions in Hyperliquid Strategies, while institutional ownership overall stands at 9.45% of the stock. Recent buyers include Boothbay Fund Management, XTX Topco, Squarepoint Ops, Private Advisor Group, and Millennium Management.
• PURR shares fell 4.9% to $6.19 amid a wide trading range over the past year of $3.01 to $11.62. Analysts currently rate the stock a Moderate Buy, with a consensus price target of $12.72.

Galaxy Digital Inc. purchased a new position in Hyperliquid Strategies Inc (NASDAQ:PURR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 899,951 shares of the company's stock, valued at approximately $4,581,000. Hyperliquid Strategies makes up approximately 0.4% of Galaxy Digital Inc.'s portfolio, making the stock its 20th largest position. Galaxy Digital Inc. owned 0.67% of Hyperliquid Strategies as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Boothbay Fund Management LLC acquired a new position in shares of Hyperliquid Strategies during the fourth quarter worth approximately $40,000. XTX Topco Ltd bought a new position in shares of Hyperliquid Strategies in the 4th quarter worth $48,000. Squarepoint Ops LLC acquired a new stake in Hyperliquid Strategies in the 4th quarter valued at $73,000. Private Advisor Group LLC acquired a new stake in Hyperliquid Strategies in the 1st quarter valued at $83,000. Finally, Millennium Management LLC acquired a new stake in Hyperliquid Strategies in the 4th quarter valued at $87,000. Institutional investors and hedge funds own 9.45% of the company's stock.

Hyperliquid Strategies Stock Down 4.9%

PURR stock opened at $6.19 on Friday. Hyperliquid Strategies Inc has a twelve month low of $3.01 and a twelve month high of $11.62. The firm has a 50 day moving average of $8.27. The company has a market capitalization of $894.15 million, a price-to-earnings ratio of -0.84 and a beta of 1.66.

Hyperliquid Strategies (NASDAQ:PURR - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $1.01 earnings per share (EPS) for the quarter. The company had revenue of $2.63 million for the quarter. On average, research analysts expect that Hyperliquid Strategies Inc will post 2.1 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on PURR. Weiss Ratings upgraded shares of Hyperliquid Strategies from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, June 3rd. 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 price objective on the stock. Cantor Fitzgerald lifted their price objective on shares of Hyperliquid Strategies from $8.00 to $18.40 and gave the company an "overweight" rating in a report on Wednesday, July 1st. Finally, Chardan Capital reissued a "buy" rating and set a $9.75 target price on shares of Hyperliquid Strategies in a research report on Friday, June 12th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Hyperliquid Strategies presently has an average rating of "Moderate Buy" and a consensus price target of $12.72.

Hyperliquid Strategies 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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