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

Hyperliquid Strategies Inc (NASDAQ:PURR) gapped up before the market opened on Monday . The stock had previously closed at $10.58, but opened at $10.97. Hyperliquid Strategies shares last traded at $11.3690, with a volume of 8,207,981 shares.

Analyst Ratings Changes

A number of equities analysts have issued reports on PURR shares. Cantor Fitzgerald upped their target price on Hyperliquid Strategies from $8.00 to $18.40 and gave the stock an “overweight” rating in a report on Wednesday, July 1st. Weiss Ratings upgraded shares of Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 3rd. Finally, Chardan Capital restated a “buy” rating and set a $9.75 price target on shares of Hyperliquid Strategies in a report on Friday, June 12th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Hyperliquid Strategies currently has a consensus rating of “Moderate Buy” and an average target price of $12.72.

Hyperliquid Strategies Trading Up 11.6%

The stock has a market cap of $1.71 billion, a PE ratio of -1.61 and a beta of 1.71. The company has a 50 day simple moving average of $7.70.

Institutional Investors Weigh In On Hyperliquid Strategies

A number of hedge funds have recently made changes to their positions in PURR. BlackRock Inc. purchased a new position in Hyperliquid Strategies in the second quarter valued at approximately $79,842,000. Paradigm Operations LP purchased a new position in Hyperliquid Strategies during the fourth quarter valued at approximately $20,327,000. Galaxy Group Investments LLC purchased a new position in shares of Hyperliquid Strategies during the 4th quarter valued at $15,167,000. Pantera Capital Partners LP bought a new position in Hyperliquid Strategies in the 4th quarter worth about $14,545,000. Finally, Feynman Point Asset Management LLC bought a new position in shares of Hyperliquid Strategies in the fourth quarter worth approximately $14,431,000. 9.45% of the stock is currently owned by 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.