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

Hyperliquid Strategies Inc (NASDAQ:PURR) gapped up before the market opened on Thursday . The stock had previously closed at $5.84, but opened at $6.07. Hyperliquid Strategies shares last traded at $5.4650, with a volume of 2,809,384 shares.

Analyst Ratings Changes

PURR has been the topic of a number of analyst reports. Cantor Fitzgerald lifted their price objective on Hyperliquid Strategies from $5.00 to $6.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. Weiss Ratings started coverage on Hyperliquid Strategies in a report on Monday, March 2nd. They issued a “sell (e)” rating for the company. Chardan Capital lifted their price target on Hyperliquid Strategies from $8.15 to $8.45 and gave the company a “buy” rating in a research note on Thursday, February 12th. Finally, Wall Street Zen raised Hyperliquid Strategies to a “hold” rating in a report on Saturday, February 21st. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.23.

Hyperliquid Strategies Stock Performance

The company has a market cap of $659.52 million, a P/E ratio of -0.57 and a beta of 1.58.

Hyperliquid Strategies (NASDAQ:PURR) last issued its earnings results on Wednesday, February 11th. The company reported ($7.43) earnings per share for the quarter. The business had revenue of $0.50 million for the quarter.

Institutional Investors Weigh In On Hyperliquid Strategies

Institutional investors and hedge funds have recently modified their holdings of the company. Boothbay Fund Management LLC purchased a new position in Hyperliquid Strategies in the 4th quarter valued at approximately $40,000. XTX Topco Ltd purchased a new stake in Hyperliquid Strategies during the fourth quarter worth $48,000. Squarepoint Ops LLC acquired a new stake in Hyperliquid Strategies in the fourth quarter valued at $73,000. Millennium Management LLC acquired a new stake in Hyperliquid Strategies in the fourth quarter valued at $87,000. Finally, Ikarian Capital LLC purchased a new position in shares of Hyperliquid Strategies in the fourth quarter valued at $107,000. 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.