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

Shares of Hyperliquid Strategies Inc (NASDAQ:PURR) gapped up prior to trading on Monday . The stock had previously closed at $10.58, but opened at $10.97. Hyperliquid Strategies shares last traded at $11.3690, with a volume of 8,207,981 shares.

Wall Street Analyst Weigh In

PURR has been the subject of several recent analyst reports. Cantor Fitzgerald raised their price objective on shares of Hyperliquid Strategies from $8.00 to $18.40 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Chardan Capital reaffirmed a “buy” rating and issued a $9.75 price target on shares of Hyperliquid Strategies in a research report on Friday, June 12th. Finally, Weiss Ratings upgraded Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 3rd. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Hyperliquid Strategies presently has a consensus rating of “Moderate Buy” and an average target price of $12.72.

Hyperliquid Strategies Stock Performance

The firm has a 50-day moving average of $7.64. The stock has a market capitalization of $1.59 billion, a PE ratio of -1.49 and a beta of 1.71.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. State of Wyoming purchased a new position in shares of Hyperliquid Strategies in the 2nd quarter worth about $46,000. Shepherd Financial Partners LLC purchased a new position in Hyperliquid Strategies in the second quarter valued at about $79,000. Boothbay Fund Management LLC purchased a new position in Hyperliquid Strategies in the fourth quarter valued at about $40,000. Lotus Technology Management LP bought a new position in shares of Hyperliquid Strategies during the 2nd quarter valued at approximately $93,000. Finally, XTX Topco Ltd purchased a new stake in shares of Hyperliquid Strategies during the 4th quarter worth approximately $48,000. Hedge funds and other institutional investors 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.