Hyperliquid Strategies (NASDAQ:PURR) Trading Up 11.8% - Still a Buy?

Key Points

• Shares were trading up 11.8% on Monday, hitting an intraday high of $6.16 and last at $5.95, on ~1.47 million shares traded—about 59% below the stock's average daily volume.
• Analyst coverage is mixed with a MarketBeat consensus of "Hold" and an average target of $7.23; two firms rate the stock Buy while one rates it Sell, and Cantor Fitzgerald and Chardan recently raised targets to $6.00 and $8.45 respectively.
• Fundamentals show a market cap of $733.7M but a negative PE (-0.64); the company reported ($7.43) EPS on just $0.5M in quarterly revenue and operates as a digital asset treasury focused on accumulating the HYPE token.

Hyperliquid Strategies Inc (NASDAQ:PURR - Get Free Report)'s share price was up 11.8% during trading on Monday . The company traded as high as $6.16 and last traded at $5.95. Approximately 1,465,717 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 3,545,994 shares. The stock had previously closed at $5.32.

Wall Street Analysts Forecast Growth

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

Hyperliquid Strategies Stock Performance

The stock has a market capitalization of $733.65 million, a PE ratio of -0.64 and a beta of 1.58.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Boothbay Fund Management LLC acquired a new stake in shares of Hyperliquid Strategies in the fourth quarter worth approximately $40,000. XTX Topco Ltd purchased a new stake in shares of Hyperliquid Strategies during the 4th quarter valued at approximately $48,000. Squarepoint Ops LLC acquired a new position in shares of Hyperliquid Strategies in the 4th quarter valued at $73,000. Millennium Management LLC acquired a new position in Hyperliquid Strategies in the fourth quarter valued at about $87,000. Finally, Ikarian Capital LLC purchased a new position in shares of Hyperliquid Strategies during the 4th quarter worth approximately $107,000. Hedge funds and other 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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