Maxim Group Begins Coverage on Hyperliquid Strategies (NASDAQ:PURR)

Analysts at Maxim Group initiated coverage on shares of Hyperliquid Strategies (NASDAQ:PURR) in a research note issued on Friday, MarketBeat Ratings reports. The firm set a “buy” rating and a $10.00 price target on the stock. Maxim Group’s price target suggests a potential upside of 66.67% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Wall Street Zen raised shares of Hyperliquid Strategies to a “hold” rating in a research note on Saturday, February 21st. Weiss Ratings initiated coverage on shares of Hyperliquid Strategies in a research note on Monday, March 2nd. They set a “sell (e)” rating on the stock. Chardan Capital increased their price target on shares of Hyperliquid Strategies from $8.15 to $8.45 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Finally, Cantor Fitzgerald raised shares of Hyperliquid Strategies to a “strong-buy” rating in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $8.15.

Hyperliquid Strategies Stock Performance

NASDAQ:PURR opened at $6.00 on Friday. The stock has a market capitalization of $743.81 million, a P/E ratio of -0.65 and a beta of 1.38. Hyperliquid Strategies has a fifty-two week low of $3.01 and a fifty-two week high of $6.88. The stock’s 50 day moving average is $5.22.

Hyperliquid Strategies (NASDAQ:PURR) last posted its quarterly earnings results on Wednesday, February 11th. The company reported ($7.43) earnings per share for the quarter. The business had revenue of $0.50 million for the quarter. As a group, research analysts anticipate that Hyperliquid Strategies will post -1.15 earnings per share for the current year.

Hedge Funds Weigh In On Hyperliquid Strategies

Hedge funds have recently made changes to their positions in the business. Boothbay Fund Management LLC purchased a new position in shares of Hyperliquid Strategies in the 4th quarter valued at $40,000. XTX Topco Ltd purchased a new position in shares of Hyperliquid Strategies in the 4th quarter valued at $48,000. Squarepoint Ops LLC purchased a new position in shares of Hyperliquid Strategies in the 4th quarter valued at $73,000. Millennium Management LLC purchased a new position in shares of Hyperliquid Strategies in the 4th quarter valued at $87,000. Finally, Ikarian Capital LLC purchased a new position in shares of Hyperliquid Strategies in the 4th quarter valued at $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.