Hyperliquid Strategies (NASDAQ:PURR) Shares Gap Up – Still a Buy?

Hyperliquid Strategies Inc (NASDAQ:PURR)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $6.93, but opened at $7.41. Hyperliquid Strategies shares last traded at $7.63, with a volume of 3,864,718 shares traded.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PURR. Cantor Fitzgerald increased their price objective on Hyperliquid Strategies from $6.00 to $8.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Wall Street Zen raised Hyperliquid Strategies to a “hold” rating in a research report on Saturday, February 21st. Weiss Ratings began coverage on Hyperliquid Strategies in a research report on Monday, March 2nd. They set a “sell (e)” rating for the company. Maxim Group began coverage on Hyperliquid Strategies in a research report on Friday, April 24th. They set a “buy” rating and a $10.00 price objective for the company. Finally, Chardan Capital increased their price objective on Hyperliquid Strategies from $8.15 to $8.45 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.82.

Hyperliquid Strategies Price Performance

The firm’s fifty day moving average is $5.83. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -1.01 and a beta of 1.44.

Institutional Trading of Hyperliquid Strategies

Several hedge funds have recently modified their holdings of the business. Paradigm Operations LP acquired a new stake in shares of Hyperliquid Strategies in the 4th quarter valued at approximately $20,327,000. Galaxy Group Investments LLC purchased a new position in Hyperliquid Strategies in the fourth quarter valued at about $15,167,000. Pantera Capital Partners LP acquired a new stake in shares of Hyperliquid Strategies during the 4th quarter valued at approximately $14,545,000. Feynman Point Asset Management LLC acquired a new stake in shares of Hyperliquid Strategies during the 4th quarter valued at approximately $14,431,000. Finally, 683 Capital Management LLC acquired a new stake in shares of Hyperliquid Strategies during the 4th quarter valued at approximately $5,660,000. 9.45% of the stock is owned by institutional investors and hedge funds.

Hyperliquid Strategies Company Profile

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.