Hyperliquid Strategies (NASDAQ:PURR) Shares Gap Up – Here’s What Happened

Shares of Hyperliquid Strategies Inc (NASDAQ:PURR) gapped up prior to trading on Monday . The stock had previously closed at $9.99, but opened at $11.62. Hyperliquid Strategies shares last traded at $10.6850, with a volume of 9,589,334 shares changing hands.

Wall Street Analyst Weigh In

PURR has been the topic of several analyst reports. Cantor Fitzgerald lifted their target price on Hyperliquid Strategies from $6.00 to $8.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Weiss Ratings upgraded shares of Hyperliquid Strategies from a “sell (e)” rating to a “sell (d)” rating in a research report on Wednesday, May 20th. Wall Street Zen upgraded shares of Hyperliquid Strategies to a “hold” rating in a research report on Saturday, February 21st. Maxim Group initiated coverage on shares of Hyperliquid Strategies in a research note on Friday, April 24th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, Chardan Capital upped their price objective on shares of Hyperliquid Strategies from $8.45 to $9.75 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Three 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, Hyperliquid Strategies presently has an average rating of “Moderate Buy” and an average target price of $9.25.

Hyperliquid Strategies Price Performance

The firm has a 50 day moving average of $6.33. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -1.44 and a beta of 1.64.

Hyperliquid Strategies (NASDAQ:PURR) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.01 earnings per share for the quarter. The business had revenue of $2.63 million during the quarter. Equities research analysts expect that Hyperliquid Strategies Inc will post -0.75 earnings per share for the current year.

Institutional Investors Weigh In On Hyperliquid Strategies

Institutional investors and hedge funds have recently made changes to their positions in the business. Boothbay Fund Management LLC acquired a new stake in Hyperliquid Strategies in the 4th quarter valued at about $40,000. XTX Topco Ltd acquired a new position in Hyperliquid Strategies during the fourth quarter worth about $48,000. Squarepoint Ops LLC purchased a new stake in shares of Hyperliquid Strategies in the fourth quarter valued at about $73,000. Private Advisor Group LLC purchased a new stake in shares of Hyperliquid Strategies in the first quarter valued at about $83,000. Finally, Millennium Management LLC acquired a new stake in shares of Hyperliquid Strategies in the fourth quarter valued at approximately $87,000. 9.45% of the stock is currently owned by hedge funds and other institutional investors.

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.