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

Hyperliquid Strategies Inc (NASDAQ:PURR)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $8.36, but opened at $7.93. Hyperliquid Strategies shares last traded at $8.0210, with a volume of 1,986,100 shares trading hands.

Wall Street Analyst Weigh In

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

Hyperliquid Strategies Trading Down 2.3%

The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -1.10 and a beta of 1.44. The company’s 50 day simple moving average is $6.21.

Hyperliquid Strategies (NASDAQ:PURR) last posted its quarterly earnings data on Thursday, May 7th. The company reported $1.01 EPS for the quarter. The company had revenue of $2.63 million for the quarter.

Institutional Trading of Hyperliquid Strategies

A number of hedge funds have recently added to or reduced their stakes in the business. Paradigm Operations LP acquired a new stake in Hyperliquid Strategies in the 4th quarter worth about $20,327,000. Galaxy Group Investments LLC acquired a new stake in Hyperliquid Strategies in the 4th quarter worth about $15,167,000. Pantera Capital Partners LP acquired a new stake in Hyperliquid Strategies in the 4th quarter worth about $14,545,000. Feynman Point Asset Management LLC acquired a new stake in Hyperliquid Strategies in the 4th quarter worth about $14,431,000. Finally, OLP CAPITAL MANAGEMENT Ltd acquired a new stake in Hyperliquid Strategies in the 1st quarter worth about $10,459,000. 9.45% of the stock is 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.