Bank of New York Mellon Corp Takes Position in Hyperliquid Strategies Inc $PURR

Key Points

• Bank of New York Mellon initiated a position in Hyperliquid Strategies, buying 342,078 shares valued at approximately $2.7 million and representing 0.24% of the company.
• Institutional ownership stands at 9.45%, with several hedge funds and other investors recently acquiring new stakes.
• Analyst sentiment is generally positive: the stock has a “Moderate Buy” consensus rating and an average price target of $16.53, compared with a recent price of $12.18.

Bank of New York Mellon Corp bought a new position in shares of Hyperliquid Strategies Inc (NASDAQ:PURR - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 342,078 shares of the company's stock, valued at approximately $2,692,000. Bank of New York Mellon Corp owned 0.24% of Hyperliquid Strategies as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Boothbay Fund Management LLC bought a new position in shares of Hyperliquid Strategies in the fourth quarter valued at $40,000. State of Wyoming acquired a new stake in shares of Hyperliquid Strategies during the second quarter worth $46,000. XTX Topco Ltd acquired a new stake in shares of Hyperliquid Strategies during the fourth quarter worth $48,000. Squarepoint Ops LLC purchased a new stake in shares of Hyperliquid Strategies during the fourth quarter valued at $73,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Hyperliquid Strategies during the first quarter valued at $83,000. 9.45% of the stock is currently owned by institutional investors.

Hyperliquid Strategies Price Performance

Shares of PURR opened at $12.18 on Tuesday. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of -1.90 and a beta of 1.89. Hyperliquid Strategies Inc has a fifty-two week low of $3.01 and a fifty-two week high of $14.14. The business's 50-day moving average is $8.29 and its 200-day moving average is $7.21.

Analyst Ratings Changes

A number of analysts have commented on the stock. Cantor Fitzgerald set a $22.60 price objective on shares of Hyperliquid Strategies and gave the company an "overweight" rating in a research note on Thursday, August 27th. Weiss Ratings raised shares of Hyperliquid Strategies from a "sell (d+)" rating to a "hold (c)" rating in a research report on Friday, August 28th. 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. Finally, Wall Street Zen lowered shares of Hyperliquid Strategies from a "hold" rating to a "sell" rating in a report on Saturday, August 29th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $16.53.

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.

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