Hyperliquid Strategies (NASDAQ:PURR) Shares Gap Up on Analyst Upgrade

Hyperliquid Strategies Inc (NASDAQ:PURR) shares gapped up before the market opened on Friday after Cantor Fitzgerald upgraded the stock to a strong-buy rating. The stock had previously closed at $5.63, but opened at $5.95. Hyperliquid Strategies shares last traded at $6.0050, with a volume of 940,838 shares trading hands.

PURR has been the topic of a number of other research reports. Weiss Ratings started coverage on Hyperliquid Strategies in a report on Monday, March 2nd. They set a “sell (e)” rating on the stock. Wall Street Zen raised Hyperliquid Strategies to a “hold” rating in a report on Saturday, February 21st. Finally, Chardan Capital lifted their price target on Hyperliquid Strategies from $8.15 to $8.45 and gave the company a “buy” rating in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $7.23.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Boothbay Fund Management LLC acquired a new position in shares of Hyperliquid Strategies during the fourth quarter valued at approximately $40,000. XTX Topco Ltd acquired a new position in shares of Hyperliquid Strategies during the fourth quarter valued at approximately $48,000. Squarepoint Ops LLC acquired a new position in shares of Hyperliquid Strategies during the fourth quarter valued at approximately $73,000. Millennium Management LLC acquired a new position in shares of Hyperliquid Strategies during the fourth quarter valued at approximately $87,000. Finally, Ikarian Capital LLC acquired a new position in shares of Hyperliquid Strategies during the fourth quarter valued at approximately $107,000. Institutional investors and hedge funds own 9.45% of the company’s stock.

Hyperliquid Strategies Trading Up 6.7%

The company has a market cap of $745.06 million, a price-to-earnings ratio of -0.65 and a beta of 1.38. The company’s 50 day moving average is $4.93.

Hyperliquid Strategies (NASDAQ:PURR) last posted its quarterly earnings data on Wednesday, February 11th. The company reported ($7.43) EPS for the quarter. The company had revenue of $0.50 million for the quarter.

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.