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

Hyperliquid Strategies Inc (NASDAQ:PURR) gapped down before the market opened on Thursday . The stock had previously closed at $8.36, but opened at $7.93. Hyperliquid Strategies shares last traded at $8.0210, with a volume of 1,986,100 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Cantor Fitzgerald increased their target price on Hyperliquid Strategies from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Chardan Capital increased their target price on Hyperliquid Strategies from $8.45 to $9.75 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Wall Street Zen raised Hyperliquid Strategies to a “hold” rating in a research note on Saturday, February 21st. Maxim Group assumed coverage on Hyperliquid Strategies in a research note on Friday, April 24th. They set a “buy” rating and a $10.00 target price for the company. Finally, Weiss Ratings raised Hyperliquid Strategies from a “sell (e)” rating to a “sell (d)” rating in a research note on Wednesday, May 20th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.25.

Hyperliquid Strategies Stock Up 17.0%

The firm has a market capitalization of $1.44 billion, a P/E ratio of -1.36 and a beta of 1.44. The company has a 50 day moving average of $6.33.

Hyperliquid Strategies (NASDAQ:PURR) last issued 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 for the quarter. On average, sell-side analysts predict that Hyperliquid Strategies Inc will post -0.75 EPS for the current year.

Hedge Funds Weigh In On Hyperliquid Strategies

Several hedge funds have recently made changes to their positions in PURR. Boothbay Fund Management LLC bought a new position in shares of Hyperliquid Strategies during the 4th quarter worth approximately $40,000. XTX Topco Ltd bought a new position in shares of Hyperliquid Strategies during the 4th quarter worth approximately $48,000. Squarepoint Ops LLC bought a new position in shares of Hyperliquid Strategies during the 4th quarter worth approximately $73,000. Private Advisor Group LLC bought a new position in shares of Hyperliquid Strategies during the 1st quarter worth approximately $83,000. Finally, Millennium Management LLC bought a new position in shares of Hyperliquid Strategies in the fourth quarter valued at $87,000. 9.45% of the stock is 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.