Hyperliquid Strategies Inc. (NASDAQ:PURR) stock is heading to new record highs on Friday following a blockbuster fiscal year 2026 earnings report released Thursday.
On Friday, Chardan Capital maintained its Buy rating on Hyperliquid Strategies and raised its price target to $17.
Treasury Expansion Drives Annual Growth
The company raised $647 million in equity capital during its fiscal year ended June 30, growing its HYPE treasury from an initial 12.5 million tokens to 29.3 million, according to a Hyperliquid Strategies press release.
Since June 30, the company deployed $773.4 million to acquire roughly 16.5 million additional HYPE tokens at an average cost of $46.77, leaving $132.6 million in cash as of Aug. 19.
"This was the year we built the platform," CEO David Schamis said in the release. "Most of the value that is created is returned to HYPE holders through programmatic buybacks," he added.
Political Support Boosts Market Sentiment
President Donald Trump stated at an Aug. 19 press conference that CFTC Chairman Mike Selig is actively working to bring Hyperliquid into the U.S. in a fully compliant way. That direct presidential endorsement sent both HYPE and PURR sharply higher in the days that followed.
Market Share Reaches All-Time Highs
The platform’s share of global perpetual futures volume hit an all-time high of 9.4% as of June 30, with Hyperliquid accounting for 63% of all decentralized perpetuals open interest as of Aug. 23, more than five times its nearest competitor.
Technical Analysis
PURR is extended above its trend gauges, trading 56.4% above the 20-day SMA ($8.59), 69.7% above the 50-day SMA ($7.92), and 75.1% above the 100-day SMA ($7.67), which is classic "price discovery" behavior but also raises the odds of sharp pullbacks. The 20-day SMA remains above the 50-day SMA (bullish), reinforcing that the intermediate trend is still pointed up.
RSI is the cleanest momentum read right now: at 83.97, it signals the move is stretched and firmly in overbought territory.
The stock is also pressing into its upper range after the 52-week high was reached in August, following a prior swing high in June and a swing low in July that set up the latest leg higher.
- Key Resistance: $14.14
- Key Support: $8.59
PURR Stock Price Activity: Hyperliquid Strategies shares were up 5.03% at $12.19 at the time of publication on Friday, according to Benzinga Pro data.
Photo: Minh8686 / Shutterstock
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