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

Hyperliquid Strategies Inc (NASDAQ:PURR) gapped up before the market opened on Monday . The stock had previously closed at $6.68, but opened at $7.26. Hyperliquid Strategies shares last traded at $7.1570, with a volume of 2,841,175 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PURR. Chardan Capital reissued a “buy” rating and set a $9.75 price objective on shares of Hyperliquid Strategies in a research report on Friday, June 12th. Cantor Fitzgerald lifted their price target on shares of Hyperliquid Strategies from $8.00 to $18.40 and gave the company an “overweight” rating in a research report on Wednesday, July 1st. 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. Finally, Maxim Group initiated coverage on shares of Hyperliquid Strategies in a research note on Friday, April 24th. They set a “buy” rating and a $10.00 target price for the company. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $12.72.

Hyperliquid Strategies Price Performance

The firm has a 50 day simple moving average of $7.59. The company has a market capitalization of $1.04 billion, a PE ratio of -0.98 and a beta of 1.71.

Institutional Trading of Hyperliquid Strategies

Several institutional investors have recently bought and sold shares of the company. State of Wyoming purchased a new position in Hyperliquid Strategies in the second quarter worth about $46,000. Shepherd Financial Partners LLC purchased a new stake in shares of Hyperliquid Strategies during the second quarter valued at approximately $79,000. Boothbay Fund Management LLC purchased a new stake in shares of Hyperliquid Strategies during the fourth quarter valued at approximately $40,000. Lotus Technology Management LP bought a new stake in shares of Hyperliquid Strategies during the second quarter valued at approximately $93,000. Finally, XTX Topco Ltd bought a new stake in shares of Hyperliquid Strategies during the fourth quarter valued at approximately $48,000. 9.45% of the stock is 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.