Hyperliquid Strategies (NASDAQ:PURR) Shares Gap Down – Here’s Why

Hyperliquid Strategies Inc (NASDAQ:PURR)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $8.36, but opened at $7.93. Hyperliquid Strategies shares last traded at $8.0210, with a volume of 1,986,100 shares traded.

Analysts Set New Price Targets

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

Hyperliquid Strategies Price Performance

The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -1.10 and a beta of 1.44. The firm’s 50 day moving average price is $6.21.

Hyperliquid Strategies (NASDAQ:PURR) last announced its earnings results on Thursday, May 7th. The company reported $1.01 EPS for the quarter. The company had revenue of $2.63 million for the quarter.

Institutional Investors Weigh In On Hyperliquid Strategies

Hedge funds have recently modified their holdings of the stock. Boothbay Fund Management LLC purchased a new stake in shares of Hyperliquid Strategies during the 4th quarter valued at about $40,000. XTX Topco Ltd purchased a new stake in shares of Hyperliquid Strategies during the 4th quarter valued at about $48,000. Private Advisor Group LLC purchased a new stake in shares of Hyperliquid Strategies during the 1st quarter valued at about $83,000. Squarepoint Ops LLC purchased a new stake in shares of Hyperliquid Strategies during the 4th quarter valued at about $73,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Hyperliquid Strategies during the 1st quarter valued at about $117,000. 9.45% of the stock is currently owned by hedge funds and other institutional investors.

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.