Purple Innovation (NASDAQ:PRPL) Issues Quarterly Earnings Results

Purple Innovation (NASDAQ:PRPL) posted its quarterly earnings results on Thursday. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.07, Zacks reports. Purple Innovation had a negative net margin of 21.34% and a negative return on equity of 84.67%. The firm had revenue of $128.98 million for the quarter, compared to analyst estimates of $129.39 million. Purple Innovation updated its FY 2025 guidance to EPS.

Purple Innovation Stock Up 36.7 %

Purple Innovation stock traded up $0.24 during midday trading on Friday, hitting $0.91. 8,899,830 shares of the company were exchanged, compared to its average volume of 713,854. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.30 and a quick ratio of 0.67. Purple Innovation has a fifty-two week low of $0.65 and a fifty-two week high of $2.12. The company’s fifty day moving average price is $0.95 and its 200-day moving average price is $0.95. The company has a market cap of $97.69 million, a PE ratio of -0.91 and a beta of 2.37.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Purple Innovation stock. Bank of America Corp DE increased its position in shares of Purple Innovation, Inc. (NASDAQ:PRPL) by 45.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,984 shares of the company’s stock after buying an additional 17,406 shares during the period. Bank of America Corp DE owned about 0.05% of Purple Innovation worth $44,000 at the end of the most recent reporting period. 88.41% of the stock is currently 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.