Hyperliquid Strategies (NASDAQ:PURR) Shares Gap Up – What’s Next?

Shares of Hyperliquid Strategies Inc (NASDAQ:PURR) gapped up before the market opened on Tuesday . The stock had previously closed at $6.93, but opened at $7.41. Hyperliquid Strategies shares last traded at $7.63, with a volume of 3,864,718 shares.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PURR. Maxim Group began coverage on Hyperliquid Strategies in a report on Friday, April 24th. They set a “buy” rating and a $10.00 price objective for the company. Chardan Capital lifted their price objective on Hyperliquid Strategies from $8.15 to $8.45 and gave the stock a “buy” rating in a report on Thursday, February 12th. Weiss Ratings began coverage on Hyperliquid Strategies in a report on Monday, March 2nd. They set a “sell (e)” rating for the company. Cantor Fitzgerald lifted their price objective on Hyperliquid Strategies from $6.00 to $8.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Finally, Wall Street Zen raised Hyperliquid Strategies to a “hold” rating in a report on Saturday, February 21st. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hyperliquid Strategies has a consensus rating of “Moderate Buy” and a consensus target price of $8.82.

Hyperliquid Strategies Stock Performance

The stock has a 50-day simple moving average of $5.83. The company has a market capitalization of $1.01 billion, a P/E ratio of -1.01 and a beta of 1.44.

Hedge Funds Weigh In On Hyperliquid Strategies

Several hedge funds have recently bought and sold shares of PURR. Paradigm Operations LP purchased a new position in Hyperliquid Strategies during the fourth quarter worth $20,327,000. Galaxy Group Investments LLC purchased a new position in Hyperliquid Strategies during the fourth quarter worth $15,167,000. Pantera Capital Partners LP purchased a new position in Hyperliquid Strategies during the fourth quarter worth $14,545,000. Feynman Point Asset Management LLC purchased a new position in Hyperliquid Strategies during the fourth quarter worth $14,431,000. Finally, 683 Capital Management LLC purchased a new position in Hyperliquid Strategies during the fourth quarter worth $5,660,000. Hedge funds and other institutional investors own 9.45% of the company’s stock.

Hyperliquid Strategies Company Profile

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.