Hyperliquid Strategies (NASDAQ:PURR) Shares Down 7.6% – Should You Sell?

Hyperliquid Strategies Inc (NASDAQ:PURR) shares dropped 7.6% during trading on Friday . The company traded as low as $4.46 and last traded at $4.50. Approximately 859,036 shares changed hands during trading, a decline of 73% from the average daily volume of 3,168,453 shares. The stock had previously closed at $4.87.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PURR. Cantor Fitzgerald raised their price target on Hyperliquid Strategies from $5.00 to $6.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. 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. Weiss Ratings assumed coverage on Hyperliquid Strategies in a research note on Monday, March 2nd. They issued a “sell (e)” rating on the stock. Finally, Wall Street Zen upgraded Hyperliquid Strategies to a “hold” rating in a research report on Saturday, February 21st. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $7.23.

Hyperliquid Strategies Stock Performance

The stock has a market capitalization of $536.79 million, a P/E ratio of -0.47 and a beta of 1.58.

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

Hedge Funds Weigh In On Hyperliquid Strategies

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