Purple Innovation (NASDAQ:PRPL) Posts Earnings Results, Beats Expectations By $0.01 EPS

Purple Innovation (NASDAQ:PRPL) posted its earnings results on Tuesday. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate 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

Shares of NASDAQ PRPL traded up $0.01 during mid-day trading on Tuesday, reaching $0.81. The company’s stock had a trading volume of 520,215 shares, compared to its average volume of 700,152. The stock has a 50-day moving average of $0.97 and a two-hundred day moving average of $0.86. The company has a debt-to-equity ratio of 54.69, a quick ratio of 0.77 and a current ratio of 1.49. The stock has a market capitalization of $87.51 million, a P/E ratio of -1.03 and a beta of 1.78. Purple Innovation has a 1-year low of $0.56 and a 1-year high of $1.29.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE increased its holdings in shares of Purple Innovation by 45.1% in the fourth quarter. Bank of America Corp DE now owns 55,984 shares of the company’s stock valued at $44,000 after purchasing an additional 17,406 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Purple Innovation in the 1st quarter worth $28,000. XTX Topco Ltd acquired a new stake in shares of Purple Innovation in the 2nd quarter worth $30,000. Marshall Wace LLP purchased a new position in shares of Purple Innovation during the 2nd quarter worth $128,000. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Purple Innovation during the 2nd quarter valued at about $63,000. 88.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PRPL shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Purple Innovation in a research note on Wednesday, October 8th. Wall Street Zen upgraded Purple Innovation from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $1.00.

About Purple Innovation

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.