Hyperliquid Strategies (NASDAQ:PURR) Reaches New 1-Year High - Time to Buy?

Key Points

• Hyperliquid Strategies (NASDAQ:PURR) hit a new 52-week high of $6.49, last trading near $6.21 (about +3.5%) on roughly 2.28 million shares traded.
• Analyst coverage is mixed—Chardan and Cantor Fitzgerald raised targets and gave bullish ratings while Weiss initiated a sell—leaving an overall average rating of "Hold" and an average target price of $7.23.
• Fundamentals remain weak: the company reported a quarterly loss of EPS ($7.43) on just $0.5M revenue and a negative P/E, yet several hedge funds established sizable new positions in Q4 and institutional ownership is 9.45%.

Hyperliquid Strategies Inc (NASDAQ:PURR - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $6.49 and last traded at $6.2050, with a volume of 2280843 shares traded. The stock had previously closed at $5.93.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Chardan Capital upped their target price on shares of Hyperliquid Strategies from $8.15 to $8.45 and gave the stock a "buy" rating in a research report on Thursday, February 12th. Weiss Ratings initiated coverage on shares of Hyperliquid Strategies in a report on Monday, March 2nd. They issued a "sell (e)" rating on the stock. Cantor Fitzgerald increased their target price on Hyperliquid Strategies from $5.00 to $6.00 and gave the stock an "overweight" rating in a research note on Thursday, February 12th. Finally, Wall Street Zen raised Hyperliquid Strategies to a "hold" rating in a research note on Saturday, February 21st. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $7.23.

Hyperliquid Strategies Stock Up 3.5%

The firm has a market capitalization of $760.56 million, a P/E ratio of -0.66 and a beta of 1.58.

Hyperliquid Strategies (NASDAQ:PURR - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The company reported ($7.43) earnings per share for the quarter. The company had revenue of $0.50 million for the quarter.

Institutional Investors Weigh In On Hyperliquid Strategies

A number of hedge funds have recently modified their holdings of PURR. Paradigm Operations LP purchased a new position in shares of Hyperliquid Strategies in the fourth quarter valued at $20,327,000. Galaxy Group Investments LLC purchased a new stake in Hyperliquid Strategies during the 4th quarter valued at about $15,167,000. Pantera Capital Partners LP purchased a new position in shares of Hyperliquid Strategies in the fourth quarter valued at about $14,545,000. Feynman Point Asset Management LLC bought a new stake in shares of Hyperliquid Strategies in the 4th quarter worth approximately $14,431,000. Finally, 683 Capital Management LLC purchased a new stake in Hyperliquid Strategies in the fourth quarter worth $5,660,000. Institutional investors own 9.45% of the company's stock.

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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