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

Hyperliquid Strategies Inc (NASDAQ:PURR) shares gapped down before the market opened on Tuesday . The stock had previously closed at $8.92, but opened at $8.55. Hyperliquid Strategies shares last traded at $8.5130, with a volume of 1,451,693 shares traded.

Wall Street Analysts Forecast Growth

PURR has been the subject of several research analyst reports. Weiss Ratings upgraded Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 3rd. Maxim Group initiated coverage on Hyperliquid Strategies in a research report on Friday, April 24th. They set a “buy” rating and a $10.00 price target for the company. Wall Street Zen upgraded Hyperliquid Strategies to a “hold” rating in a research report on Saturday, February 21st. Cantor Fitzgerald raised their price target on Hyperliquid Strategies from $6.00 to $8.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Finally, Chardan Capital raised their price target on Hyperliquid Strategies from $8.45 to $9.75 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Hyperliquid Strategies presently has an average rating of “Moderate Buy” and an average target price of $9.25.

Hyperliquid Strategies Price Performance

The company has a market cap of $1.14 billion, a PE ratio of -1.07 and a beta of 1.64. The stock’s fifty day simple moving average is $6.88.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PURR. Paradigm Operations LP acquired a new stake in Hyperliquid Strategies in the fourth quarter valued at $20,327,000. Galaxy Group Investments LLC acquired a new stake in Hyperliquid Strategies in the fourth quarter valued at $15,167,000. Pantera Capital Partners LP acquired a new stake in Hyperliquid Strategies in the fourth quarter valued at $14,545,000. Feynman Point Asset Management LLC acquired a new stake in Hyperliquid Strategies in the fourth quarter valued at $14,431,000. Finally, OLP CAPITAL MANAGEMENT Ltd acquired a new stake in Hyperliquid Strategies in the first quarter valued at $10,459,000. 9.45% of the stock is currently owned by hedge funds and other institutional investors.

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.