Investors Buy Large Volume of Call Options on Purple Innovation (NASDAQ:PRPL)

Purple Innovation, Inc. (NASDAQ:PRPL) was the recipient of unusually large options trading on Friday. Stock investors bought 4,468 call options on the stock. This is an increase of 6,283% compared to the typical volume of 70 call options.

Institutional Trading of Purple Innovation

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC grew its holdings in shares of Purple Innovation by 14.5% in the fourth quarter. Barclays PLC now owns 85,627 shares of the company’s stock valued at $67,000 after acquiring an additional 10,824 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Purple Innovation by 70.2% in the fourth quarter. SG Americas Securities LLC now owns 35,272 shares of the company’s stock valued at $28,000 after acquiring an additional 14,548 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Purple Innovation by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,346,073 shares of the company’s stock valued at $1,331,000 after acquiring an additional 16,033 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Purple Innovation by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 458,627 shares of the company’s stock valued at $453,000 after acquiring an additional 17,056 shares in the last quarter. Finally, Bank of America Corp DE grew 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 acquiring an additional 17,406 shares in the last quarter. 88.41% of the stock is owned by hedge funds and other institutional investors.

Purple Innovation Stock Performance

Shares of Purple Innovation stock opened at $0.90 on Friday. The company has a market cap of $96.93 million, a PE ratio of -0.90 and a beta of 2.37. Purple Innovation has a 52 week low of $0.65 and a 52 week high of $2.12. The business has a 50 day moving average price of $0.95 and a 200-day moving average price of $0.95. The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 1.81.

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