Hyperliquid Strategies (NASDAQ:PURR) Shares Gap Up – Here’s What Happened

Hyperliquid Strategies Inc (NASDAQ:PURR)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $11.93, but opened at $12.64. Hyperliquid Strategies shares last traded at $12.0590, with a volume of 3,855,985 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PURR. Chardan Capital increased their target price on shares of Hyperliquid Strategies from $9.75 to $17.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Weiss Ratings raised shares of Hyperliquid Strategies from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, August 28th. Cantor Fitzgerald set a $22.60 price objective on shares of Hyperliquid Strategies and gave the company an “overweight” rating in a report on Thursday, August 27th. Finally, Wall Street Zen cut shares of Hyperliquid Strategies from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.53.

Hyperliquid Strategies Price Performance

The stock has a market cap of $2.41 billion, a P/E ratio of -1.90 and a beta of 1.89. The company has a fifty day moving average price of $8.37 and a 200 day moving average price of $7.26.

Institutional Trading of Hyperliquid Strategies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Boothbay Fund Management LLC bought a new position in shares of Hyperliquid Strategies in the fourth quarter valued at $40,000. State of Wyoming bought a new stake in shares of Hyperliquid Strategies during the second quarter worth about $46,000. XTX Topco Ltd bought a new stake in shares of Hyperliquid Strategies during the fourth quarter worth about $48,000. Squarepoint Ops LLC acquired a new stake in shares of Hyperliquid Strategies in the 4th quarter worth about $73,000. Finally, Shepherd Financial Partners LLC acquired a new stake in shares of Hyperliquid Strategies in the 2nd quarter worth about $79,000. 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.