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

Shares of Hyperliquid Strategies Inc (NASDAQ:PURR) gapped up before the market opened on Monday . The stock had previously closed at $9.99, but opened at $11.62. Hyperliquid Strategies shares last traded at $10.6850, with a volume of 9,589,334 shares trading hands.

Wall Street Analyst Weigh In

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

Hyperliquid Strategies Stock Performance

The company has a market cap of $1.58 billion, a PE ratio of -1.49 and a beta of 1.64. The business’s 50-day moving average price is $6.43.

Hyperliquid Strategies (NASDAQ:PURR) last posted its quarterly earnings data on Thursday, May 7th. The company reported $1.01 earnings per share for the quarter. The company had revenue of $2.63 million during the quarter. As a group, analysts expect that Hyperliquid Strategies Inc will post -0.75 earnings per share for the current year.

Institutional Investors Weigh In On Hyperliquid Strategies

Several institutional investors have recently modified their holdings of PURR. EHP Funds Inc. acquired a new stake in shares of Hyperliquid Strategies during the 4th quarter worth approximately $302,000. HRT Financial LP acquired a new stake in shares of Hyperliquid Strategies during the 4th quarter worth approximately $856,000. Jane Street Group LLC acquired a new stake in shares of Hyperliquid Strategies during the 4th quarter worth approximately $339,000. GM Advisory Group LLC acquired a new stake in shares of Hyperliquid Strategies during the 4th quarter worth approximately $2,946,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of Hyperliquid Strategies during the 4th quarter worth approximately $156,000. Institutional investors and hedge funds 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.