Purple Innovation (NASDAQ:PRPL) Given “Neutral” Rating at Wedbush

Wedbush reissued their neutral rating on shares of Purple Innovation (NASDAQ:PRPL) in a research report released on Wednesday,Benzinga reports. The firm currently has a $1.00 price objective on the stock.

Purple Innovation Stock Performance

Shares of Purple Innovation stock opened at $0.77 on Wednesday. The firm has a fifty day moving average of $0.95 and a two-hundred day moving average of $0.93. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.67 and a current ratio of 1.30. The stock has a market capitalization of $82.61 million, a price-to-earnings ratio of -0.77 and a beta of 2.37. Purple Innovation has a 52 week low of $0.65 and a 52 week high of $2.12.

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

Institutional Investors Weigh In On Purple Innovation

Several large investors have recently bought and sold shares of PRPL. Invenomic Capital Management LP acquired a new position in shares of Purple Innovation in the 4th quarter valued at $620,000. JPMorgan Chase & Co. grew its stake in Purple Innovation by 2,140.2% in the fourth quarter. JPMorgan Chase & Co. now owns 608,144 shares of the company’s stock valued at $474,000 after acquiring an additional 580,997 shares during the period. Wasatch Advisors LP increased its holdings in shares of Purple Innovation by 25.0% in the third quarter. Wasatch Advisors LP now owns 2,800,109 shares of the company’s stock worth $2,768,000 after acquiring an additional 560,407 shares in the last quarter. Dynamic Advisor Solutions LLC raised its position in shares of Purple Innovation by 27.5% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 901,176 shares of the company’s stock worth $703,000 after purchasing an additional 194,398 shares during the period. Finally, Truist Financial Corp lifted its holdings in shares of Purple Innovation by 32.4% during the 4th quarter. Truist Financial Corp now owns 629,032 shares of the company’s stock valued at $491,000 after purchasing an additional 154,032 shares in the last quarter. Institutional investors own 88.41% of the company’s stock.

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.