Hyperliquid Strategies (NASDAQ:PURR) Shares Down 7.3% - Should You Sell?

Key Points

• Shares fell 7.3% during mid-day trading to $5.425 (intraday low $5.40) on roughly 2.91M shares traded, about 24% below its average daily volume.
• Weak fundamentals: the company reported quarterly EPS of ($7.43) on $0.5M in revenue, has a market cap of $644.6M and a negative P/E of -0.56.
• Analysts are mixed: two Buy ratings and one Sell leave a consensus "Hold" with a $7.23 average target, while recent notes range from Weiss's "sell (e)" to price-target raises to $6.00 and $8.45.

Shares of Hyperliquid Strategies Inc (NASDAQ:PURR - Get Free Report) were down 7.3% during mid-day trading on Friday . The stock traded as low as $5.40 and last traded at $5.4250. Approximately 2,908,789 shares changed hands during trading, a decline of 24% from the average daily volume of 3,845,903 shares. The stock had previously closed at $5.85.

Analyst Upgrades and Downgrades

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

Hyperliquid Strategies Stock Down 11.1%

The company has a market cap of $644.64 million, a PE ratio of -0.56 and a beta of 1.58.

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

Institutional Trading of Hyperliquid Strategies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Boothbay Fund Management LLC acquired a new stake in Hyperliquid Strategies in the fourth quarter valued at $40,000. XTX Topco Ltd bought a new position in shares of Hyperliquid Strategies during the fourth quarter worth about $48,000. Squarepoint Ops LLC acquired a new position in Hyperliquid Strategies in the fourth quarter worth about $73,000. Millennium Management LLC bought a new stake in Hyperliquid Strategies in the fourth quarter valued at about $87,000. Finally, Ikarian Capital LLC acquired a new stake in Hyperliquid Strategies during the fourth quarter valued at approximately $107,000. 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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