Purple Innovation (NASDAQ:PRPL) Issues Earnings Results

Purple Innovation (NASDAQ:PRPL) announced its earnings results on Tuesday. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01, Zacks reports. Purple Innovation had a negative net margin of 18.43% and a negative return on equity of 472.12%. Purple Innovation updated its FY 2025 guidance to EPS.

Purple Innovation Price Performance

PRPL traded up $0.01 during trading on Tuesday, hitting $0.81. 520,215 shares of the company traded hands, compared to its average volume of 700,152. The company has a market cap of $87.51 million, a PE ratio of -1.03 and a beta of 1.78. The stock’s 50-day simple moving average is $0.97 and its two-hundred day simple moving average is $0.86. Purple Innovation has a 1 year low of $0.56 and a 1 year high of $1.29. The company has a current ratio of 1.49, a quick ratio of 0.77 and a debt-to-equity ratio of 54.69.

Analysts Set New Price Targets

PRPL has been the subject of a number of research reports. Wall Street Zen raised shares of Purple Innovation from a “sell” rating to a “hold” rating in a report on Friday, August 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Purple Innovation in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Purple Innovation has a consensus rating of “Reduce” and an average target price of $1.00.

Hedge Funds Weigh In On Purple Innovation

Institutional investors have recently bought and sold shares of the stock. Wasatch Advisors LP grew its stake in Purple Innovation by 16.1% in the second quarter. Wasatch Advisors LP now owns 4,627,934 shares of the company’s stock worth $3,375,000 after purchasing an additional 641,697 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Purple Innovation in the 2nd quarter worth $253,000. Marshall Wace LLP purchased a new stake in shares of Purple Innovation in the 2nd quarter worth $128,000. Qube Research & Technologies Ltd purchased a new stake in shares of Purple Innovation in the 2nd quarter worth $63,000. Finally, XTX Topco Ltd purchased a new stake in shares of Purple Innovation in the 2nd quarter worth $30,000. 88.41% of the stock is owned by hedge funds and other institutional investors.

Purple Innovation Company Profile

Purple Innovation, Inc designs and manufactures sleep and other products in the United States and internationally. The company offers mattresses, pillows, cushions, bases, sheets, platforms, adjustable bases, mattress protectors, foundations, blankets, duvets, duvet covers, seat cushions, and pet beds under the Purple brand.