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

Hyperliquid Strategies Inc (NASDAQ:PURR) gapped up prior to trading on Monday . The stock had previously closed at $8.70, but opened at $9.56. Hyperliquid Strategies shares last traded at $9.2860, with a volume of 2,207,273 shares trading hands.

Wall Street Analyst Weigh In

PURR has been the topic of a number of research reports. Maxim Group initiated coverage on shares of Hyperliquid Strategies in a research note on Friday, April 24th. They issued a “buy” rating and a $10.00 price objective on the stock. Weiss Ratings raised shares of Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 3rd. Cantor Fitzgerald increased their price objective on shares of Hyperliquid Strategies from $6.00 to $8.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Wall Street Zen raised shares of Hyperliquid Strategies to a “hold” rating in a research note on Saturday, February 21st. Finally, Chardan Capital reaffirmed a “buy” rating and set a $9.75 price target on shares of Hyperliquid Strategies in a research note on Friday. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $9.25.

Hyperliquid Strategies Stock Up 10.5%

The stock has a market capitalization of $1.39 billion, a P/E ratio of -1.30 and a beta of 1.64. The firm has a 50 day moving average price of $7.14.

Hyperliquid Strategies (NASDAQ:PURR) last released its quarterly earnings results on Thursday, May 7th. The company reported $1.01 earnings per share (EPS) for the quarter. The firm had revenue of $2.63 million for the quarter. On average, equities analysts anticipate that Hyperliquid Strategies Inc will post -0.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Hyperliquid Strategies

Several institutional investors have recently added to or reduced their stakes in the business. Boothbay Fund Management LLC acquired a new position in Hyperliquid Strategies in the fourth quarter valued at $40,000. XTX Topco Ltd acquired a new stake in shares of Hyperliquid Strategies in the fourth quarter worth approximately $48,000. Private Advisor Group LLC acquired a new stake in shares of Hyperliquid Strategies in the first quarter worth approximately $83,000. Squarepoint Ops LLC acquired a new stake in shares of Hyperliquid Strategies in the fourth quarter worth approximately $73,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Hyperliquid Strategies in the first quarter worth approximately $117,000. 9.45% of the stock is currently owned by institutional investors and hedge funds.

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.