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

Hyperliquid Strategies Inc (NASDAQ:PURR) gapped up before the market opened on Wednesday . The stock had previously closed at $11.93, but opened at $12.64. Hyperliquid Strategies shares last traded at $12.0590, with a volume of 3,855,985 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PURR. Cantor Fitzgerald boosted their price target on Hyperliquid Strategies from $22.60 to $34.20 and gave the stock an “overweight” rating in a research report on Thursday. Chardan Capital increased their price objective on Hyperliquid Strategies from $9.75 to $17.00 and gave the company a “buy” rating in a report on Friday, August 28th. Weiss Ratings raised shares of Hyperliquid Strategies from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, August 28th. Finally, Wall Street Zen cut shares of Hyperliquid Strategies from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.40.

Hyperliquid Strategies Price Performance

The business has a 50-day simple moving average of $8.50 and a two-hundred day simple moving average of $7.37. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of -1.71 and a beta of 1.89.

Institutional Investors Weigh In On Hyperliquid Strategies

Several hedge funds have recently added to or reduced their stakes in PURR. Militia Capital Management LLC acquired a new stake in shares of Hyperliquid Strategies during the 1st quarter worth about $3,323,000. Galaxy Digital Inc. acquired a new position in Hyperliquid Strategies in the 1st quarter valued at about $4,581,000. OLP CAPITAL MANAGEMENT Ltd bought a new position in Hyperliquid Strategies in the 1st quarter valued at about $10,459,000. Maplelane Capital LLC bought a new position in Hyperliquid Strategies in the 1st quarter valued at about $2,927,000. Finally, Deutsche Bank AG bought a new position in Hyperliquid Strategies in the 2nd quarter valued at about $965,000. 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.