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

Hyperliquid Strategies Inc (NASDAQ:PURR) gapped up prior to trading on Monday . The stock had previously closed at $6.68, but opened at $7.26. Hyperliquid Strategies shares last traded at $7.1570, with a volume of 2,841,175 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PURR shares. Maxim Group assumed coverage on Hyperliquid Strategies in a report on Friday, April 24th. They set a “buy” rating and a $10.00 target price for the company. Cantor Fitzgerald lifted their price target on Hyperliquid Strategies from $8.00 to $18.40 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Weiss Ratings upgraded Hyperliquid Strategies from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 3rd. Finally, Chardan Capital reissued a “buy” rating and set a $9.75 price objective on shares of Hyperliquid Strategies in a research note on Friday, June 12th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Hyperliquid Strategies currently has a consensus rating of “Moderate Buy” and an average target price of $12.72.

Hyperliquid Strategies Stock Up 7.9%

The stock has a market cap of $1.04 billion, a P/E ratio of -0.98 and a beta of 1.71. The firm has a fifty day moving average price of $7.59.

Institutional Trading of Hyperliquid Strategies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PURR. Bank of America Corp DE purchased a new position in Hyperliquid Strategies during the 2nd quarter valued at $5,001,000. Lotus Technology Management LP bought a new stake in shares of Hyperliquid Strategies during the 2nd quarter valued at about $93,000. EFG International AG purchased a new position in shares of Hyperliquid Strategies during the second quarter valued at about $239,000. Legal & General Group Plc bought a new position in Hyperliquid Strategies in the second quarter worth about $177,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Hyperliquid Strategies in the second quarter worth about $258,000. Hedge funds and other 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.