Hyperliquid Strategies (NASDAQ:PURR) Shares Gap Up – What’s Next?

Hyperliquid Strategies Inc (NASDAQ:PURR)’s stock price gapped up prior to trading 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 trading hands.

Analyst Ratings Changes

Several analysts recently commented on PURR shares. Chardan Capital lifted their target price on shares of Hyperliquid Strategies from $9.75 to $17.00 and gave the stock a “buy” rating in a report on Friday. Cantor Fitzgerald set a $22.60 price target on shares of Hyperliquid Strategies and gave the company an “overweight” rating in a report on Thursday, August 27th. Wall Street Zen downgraded shares of Hyperliquid Strategies from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Weiss Ratings upgraded Hyperliquid Strategies from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Hyperliquid Strategies currently has an average rating of “Moderate Buy” and an average target price of $16.53.

Hyperliquid Strategies Trading Down 7.3%

The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -1.54 and a beta of 1.88. The firm’s 50 day simple moving average is $7.98 and its two-hundred day simple moving average is $6.99.

Institutional Investors Weigh In On Hyperliquid Strategies

A number of hedge funds and other institutional investors have recently made changes to their positions in PURR. BlackRock Inc. acquired a new stake in Hyperliquid Strategies during the second quarter worth approximately $79,842,000. Paradigm Operations LP acquired a new position in Hyperliquid Strategies in the 4th quarter valued at $20,327,000. Galaxy Group Investments LLC acquired a new position in Hyperliquid Strategies in the 4th quarter valued at $15,167,000. Pantera Capital Partners LP bought a new stake in shares of Hyperliquid Strategies during the 4th quarter valued at $14,545,000. Finally, Feynman Point Asset Management LLC acquired a new stake in shares of Hyperliquid Strategies during the 4th quarter worth $14,431,000. 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.