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

Shares of Hyperliquid Strategies Inc (NASDAQ:PURR) gapped up before the market opened on Tuesday . The stock had previously closed at $7.67, but opened at $8.37. Hyperliquid Strategies shares last traded at $8.69, with a volume of 3,163,045 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PURR shares. Weiss Ratings upgraded Hyperliquid Strategies from a “sell (e)” rating to a “sell (d)” rating in a research note on Wednesday, May 20th. Chardan Capital raised their price objective on Hyperliquid Strategies from $8.45 to $9.75 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Maxim Group started coverage on Hyperliquid Strategies in a research note on Friday, April 24th. They set a “buy” rating and a $10.00 price objective on the stock. Cantor Fitzgerald raised their price objective on Hyperliquid Strategies from $6.00 to $8.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Finally, Wall Street Zen upgraded 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.25.

Hyperliquid Strategies Trading Up 13.4%

The stock has a market capitalization of $1.17 billion, a P/E ratio of -1.18 and a beta of 1.44. The firm’s fifty day simple moving average is $6.10.

Hyperliquid Strategies (NASDAQ:PURR) last announced its earnings results on Thursday, May 7th. The company reported $1.01 earnings per share for the quarter. The business had revenue of $2.63 million for the quarter. Equities analysts forecast that Hyperliquid Strategies Inc will post -0.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. OLP CAPITAL MANAGEMENT Ltd bought a new position in shares of Hyperliquid Strategies during the 1st quarter valued at $10,459,000. Bank of America Corp DE boosted its holdings in Hyperliquid Strategies by 896.4% in the first quarter. Bank of America Corp DE now owns 238,080 shares of the company’s stock worth $1,212,000 after purchasing an additional 214,187 shares in the last quarter. Maplelane Capital LLC acquired a new position in Hyperliquid Strategies during the first quarter worth $2,927,000. Galaxy Digital Inc. bought a new position in Hyperliquid Strategies during the first quarter valued at about $4,581,000. Finally, Bank of Nova Scotia bought a new position in Hyperliquid Strategies during the first quarter valued at about $204,000. 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.