Traders Buy High Volume of Call Options on Purple Innovation (NASDAQ:PRPL)

Purple Innovation, Inc. (NASDAQ:PRPL) was the target of some unusual options trading activity on Friday. Stock investors purchased 4,468 call options on the company. This represents an increase of approximately 6,283% compared to the average volume of 70 call options.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PRPL. SG Americas Securities LLC grew its position in Purple Innovation by 70.2% in the 4th quarter. SG Americas Securities LLC now owns 35,272 shares of the company’s stock worth $28,000 after purchasing an additional 14,548 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Purple Innovation by 45.1% in the 4th quarter. Bank of America Corp DE now owns 55,984 shares of the company’s stock worth $44,000 after acquiring an additional 17,406 shares during the period. Barclays PLC lifted its stake in shares of Purple Innovation by 14.5% in the 4th quarter. Barclays PLC now owns 85,627 shares of the company’s stock worth $67,000 after acquiring an additional 10,824 shares during the period. Legacy Investment Solutions LLC acquired a new stake in shares of Purple Innovation in the 3rd quarter worth approximately $70,000. Finally, Townsquare Capital LLC acquired a new stake in shares of Purple Innovation in the 4th quarter worth approximately $73,000. Institutional investors own 88.41% of the company’s stock.

Purple Innovation Stock Up 36.1 %

Shares of Purple Innovation stock traded up $0.24 during trading on Friday, reaching $0.90. The company had a trading volume of 14,606,451 shares, compared to its average volume of 838,807. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.67 and a current ratio of 1.30. Purple Innovation has a fifty-two week low of $0.65 and a fifty-two week high of $2.12. The firm’s fifty day moving average is $0.95 and its 200-day moving average is $0.95. The company has a market cap of $97.26 million, a price-to-earnings ratio of -0.91 and a beta of 2.37.

Purple Innovation (NASDAQ:PRPL) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.07. Purple Innovation had a negative net margin of 21.34% and a negative return on equity of 84.67%. The business had revenue of $128.98 million during the quarter, compared to the consensus estimate of $129.39 million. On average, analysts anticipate that Purple Innovation will post -0.47 EPS for the current year.

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.