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

Hyperliquid Strategies Inc (NASDAQ:PURR) shares gapped up prior to trading on Monday . The stock had previously closed at $8.70, but opened at $9.56. Hyperliquid Strategies shares last traded at $9.2860, with a volume of 2,207,273 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PURR shares. Maxim Group started coverage on shares of Hyperliquid Strategies in a research report on Friday, April 24th. They issued a “buy” rating and a $10.00 target price on the stock. Wall Street Zen raised shares of Hyperliquid Strategies to a “hold” rating in a research report on Saturday, February 21st. Weiss Ratings raised shares of Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 3rd. Chardan Capital reissued a “buy” rating and issued a $9.75 target price on shares of Hyperliquid Strategies in a research report on Friday. Finally, Cantor Fitzgerald raised their target price on shares of Hyperliquid Strategies from $6.00 to $8.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.25.

Hyperliquid Strategies Stock Up 10.5%

The firm has a market capitalization of $1.39 billion, a PE ratio of -1.30 and a beta of 1.64. The stock’s 50-day moving average is $7.14.

Hyperliquid Strategies (NASDAQ:PURR) last announced 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. Research analysts predict that Hyperliquid Strategies Inc will post -0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hyperliquid Strategies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Boothbay Fund Management LLC purchased a new stake in shares of Hyperliquid Strategies in the fourth quarter worth about $40,000. XTX Topco Ltd purchased a new stake in shares of Hyperliquid Strategies in the fourth quarter worth about $48,000. Private Advisor Group LLC purchased a new stake in shares of Hyperliquid Strategies in the first quarter worth about $83,000. Squarepoint Ops LLC purchased a new stake in shares of Hyperliquid Strategies in the fourth quarter worth about $73,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Hyperliquid Strategies in the first quarter worth about $117,000. Hedge funds and other institutional investors own 9.45% of the company’s stock.

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.