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

Shares of Hyperliquid Strategies Inc (NASDAQ:PURR) gapped up before the market opened on Monday . The stock had previously closed at $11.61, but opened at $12.19. Hyperliquid Strategies shares last traded at $11.3830, with a volume of 6,851,540 shares traded.

Analysts Set New Price Targets

PURR has been the topic of several recent analyst reports. Wall Street Zen cut shares of Hyperliquid Strategies from a “hold” rating to a “sell” rating in a report on Saturday. Cantor Fitzgerald set a $22.60 price objective on shares of Hyperliquid Strategies and gave the stock an “overweight” rating in a report on Thursday. Weiss Ratings raised shares of Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 3rd. Finally, Chardan Capital upped their target price on shares of Hyperliquid Strategies from $9.75 to $17.00 and gave the company a “buy” rating in a research note on Friday. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.53.

Hyperliquid Strategies Trading Down 0.3%

The stock’s 50-day moving average price is $7.86 and its 200-day moving average price is $6.88. The company has a market capitalization of $1.67 billion, a P/E ratio of -1.57 and a beta of 1.71.

Institutional Investors Weigh In On Hyperliquid Strategies

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Hyperliquid Strategies in the 2nd quarter worth about $79,842,000. Paradigm Operations LP acquired a new position in Hyperliquid Strategies during the 4th quarter valued at about $20,327,000. Galaxy Group Investments LLC acquired a new position in Hyperliquid Strategies during the 4th quarter valued at about $15,167,000. Pantera Capital Partners LP bought a new position in Hyperliquid Strategies in the 4th quarter worth about $14,545,000. Finally, Feynman Point Asset Management LLC bought a new position in Hyperliquid Strategies in the 4th quarter worth about $14,431,000. 9.45% of the stock is 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.