Hyperliquid Strategies (NASDAQ:PURR) Shares Gap Up – Still a Buy?

Hyperliquid Strategies Inc (NASDAQ:PURR)’s share price 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 changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PURR. Maxim Group began coverage on Hyperliquid Strategies in a research report on Friday, April 24th. They set a “buy” rating and a $10.00 price objective on the stock. Weiss Ratings raised Hyperliquid Strategies from a “sell (e)” rating to a “sell (d)” rating in a research report on Wednesday, May 20th. Cantor Fitzgerald raised their target price on Hyperliquid Strategies from $6.00 to $8.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Chardan Capital raised their target price on Hyperliquid Strategies from $8.45 to $9.75 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Finally, Wall Street Zen raised Hyperliquid Strategies to a “hold” rating in a research report on Saturday, February 21st. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Hyperliquid Strategies presently has an average rating of “Moderate Buy” and a consensus target price of $9.25.

Hyperliquid Strategies Price Performance

The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -1.16 and a beta of 1.44. The stock has a 50-day moving average price of $6.21.

Hyperliquid Strategies (NASDAQ:PURR) last announced its earnings results on Thursday, May 7th. The company reported $1.01 earnings per share (EPS) for the quarter. The firm had revenue of $2.63 million during the quarter.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its stake in shares of 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 buying an additional 214,187 shares during the period. Maplelane Capital LLC bought a new position in shares of Hyperliquid Strategies in the first quarter worth about $2,927,000. Galaxy Digital Inc. bought a new position in shares of Hyperliquid Strategies in the first quarter worth about $4,581,000. Bank of Nova Scotia bought a new position in shares of Hyperliquid Strategies in the first quarter worth about $204,000. Finally, Militia Capital Management LLC bought a new position in shares of Hyperliquid Strategies in the first quarter worth about $3,323,000. Institutional investors own 9.45% of the company’s stock.

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.