Hyperliquid Strategies (NASDAQ:PURR) Shares Gap Down – Here’s Why

Hyperliquid Strategies Inc (NASDAQ:PURR)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $11.85, but opened at $11.33. Hyperliquid Strategies shares last traded at $11.1890, with a volume of 3,017,681 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PURR shares. Weiss Ratings raised Hyperliquid Strategies from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, August 28th. Compass Point began coverage on shares of Hyperliquid Strategies in a research report on Monday. They set a “buy” rating and a $18.00 price objective on the stock. Wall Street Zen downgraded shares of Hyperliquid Strategies from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Chardan Capital raised their target price on shares of Hyperliquid Strategies from $9.75 to $17.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Finally, Cantor Fitzgerald lifted their price target on shares of Hyperliquid Strategies from $22.60 to $34.20 and gave the company an “overweight” rating in a report on Thursday, September 10th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.80.

Hyperliquid Strategies Stock Performance

The company has a market capitalization of $2.21 billion, a P/E ratio of -1.75 and a beta of 1.89. The company’s fifty day simple moving average is $8.64 and its 200-day simple moving average is $7.48.

Institutional Trading of Hyperliquid Strategies

Hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Hyperliquid Strategies during the second quarter valued at approximately $79,842,000. Paradigm Operations LP purchased a new position in shares of Hyperliquid Strategies in the 4th quarter valued at approximately $20,327,000. OLP CAPITAL MANAGEMENT Ltd acquired a new stake in Hyperliquid Strategies in the 1st quarter worth approximately $10,459,000. 683 Capital Management LLC purchased a new stake in Hyperliquid Strategies during the 4th quarter worth approximately $5,660,000. Finally, Arrington Capital Management LLC acquired a new position in Hyperliquid Strategies during the 4th quarter valued at approximately $4,557,000. 9.45% of the stock is owned by hedge funds and other institutional investors.

About Hyperliquid Strategies