Hyperliquid Strategies (NASDAQ:PURR) Shares Gap Up – Should You Buy?

Hyperliquid Strategies Inc (NASDAQ:PURR) shares gapped up prior to trading on Monday . The stock had previously closed at $11.61, but opened at $12.19. Hyperliquid Strategies shares last traded at $11.3830, with a volume of 6,851,540 shares.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PURR. Chardan Capital boosted their price objective on shares of Hyperliquid Strategies from $9.75 to $17.00 and gave the company a “buy” rating in a research note on Friday. Cantor Fitzgerald set a $22.60 target price on Hyperliquid Strategies and gave the stock an “overweight” rating in a research report on Thursday. Weiss Ratings upgraded Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 3rd. Finally, Wall Street Zen downgraded Hyperliquid Strategies from a “hold” rating to a “sell” rating in a research report on Saturday. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hyperliquid Strategies currently has a consensus rating of “Moderate Buy” and an average target price of $16.53.

Hyperliquid Strategies Stock Performance

The stock has a market cap of $1.67 billion, a PE ratio of -1.57 and a beta of 1.71. The stock has a fifty day simple moving average of $7.86 and a two-hundred day simple moving average of $6.88.

Institutional Investors Weigh In On Hyperliquid Strategies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PURR. BlackRock Inc. purchased a new position in Hyperliquid Strategies in the 2nd quarter valued at about $79,842,000. Paradigm Operations LP purchased a new stake in shares of Hyperliquid Strategies during the second quarter worth about $44,936,535. Galaxy Group Investments LLC acquired a new position in shares of Hyperliquid Strategies in the fourth quarter worth about $15,167,000. Pantera Capital Partners LP purchased a new position in Hyperliquid Strategies in the fourth quarter valued at about $14,545,000. Finally, Feynman Point Asset Management LLC acquired a new stake in Hyperliquid Strategies during the 4th quarter valued at approximately $14,431,000. 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.