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

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

Analyst Ratings Changes

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

Hyperliquid Strategies Trading Down 11.7%

The company has a market cap of $1.14 billion, a PE ratio of -1.07 and a beta of 1.64. The business’s 50-day moving average price is $6.88.

Hyperliquid Strategies (NASDAQ:PURR) last issued its quarterly 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. Analysts predict that Hyperliquid Strategies Inc will post -0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hyperliquid Strategies

Several institutional investors have recently added to or reduced their stakes in PURR. Boothbay Fund Management LLC acquired a new position in Hyperliquid Strategies in the 4th quarter valued at about $40,000. XTX Topco Ltd acquired a new position in Hyperliquid Strategies in the 4th quarter valued at about $48,000. Squarepoint Ops LLC purchased a new stake in shares of Hyperliquid Strategies in the fourth quarter valued at about $73,000. Private Advisor Group LLC acquired a new position in shares of Hyperliquid Strategies during the first quarter worth about $83,000. Finally, Millennium Management LLC acquired a new position in shares of Hyperliquid Strategies during the fourth quarter worth about $87,000. Institutional investors and hedge funds 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.