Anthos Pano Acquires Purple Innovation Inc. (PRPL) Shares

Purple Innovation Inc. (NASDAQ:PRPL) trading with a subtraction of -$0.39 to $21.73 on Friday, a downside of -1.76 percent. An average of 1,168,044 shares of common stock have been traded in the last five days. There was a gain of $0.62 in the past week. The last 20 days have seen an average of 1,206,811 shares traded, while the 50-day average volume stands at 942,812.

PRPL stock has decreased by -5.06% in the last month. The company shares reached their 1-month lowest point of $20.68 on 10/01/21. With the stock rallying to its 52-week high on 01/25/21, shares of the company touched a low of $20.68 and a high of $41.08 in 52 weeks. In spite of this, the price is down -47.10% from the 52-week high.


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Insider Transactions

119 days have passed since Purple Innovation Inc. (PRPL) last reported insider trading activity. Anthos Pano, who is Director, most recently acquired $799 shares at $29.00 per share on Jun 11. In this transaction, the insider spent $23,171. Director, Anthos Pano, disposed of 1,707 shares at a price of $29.00 on Jun 10. The insider now owns more than $49,510 worth of shares. Prior to that, Director Anthos Pano went on to Sale 7,735 shares at $29.00 each on Jun 09. An amount of $224,345 was transacted.

Valuation Metrics

Purple Innovation Inc. (PRPL) has a trailing price-to-earnings (P/E) ratio of 16.20 for the broader industry and 20.38 for the sector. This means investors are optimistic about the stock’s future prospects. In the last five years, Purple Innovation Inc.’s PE ratio has ranged between 185.87 and 32.29. The stock’s beta is 1.31. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.01, the price-to-book (PB) ratio at 9.14.

The quick ratio of Purple Innovation Inc. for the three months ended June 29 was 1.30, and the current ratio was 1.80, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.25 and a total debt to equity ratio of 0.26 for the quarter ending June 29. Purple Innovation Inc.’s EBITDA margin for the year ending June 29 is 12.68%, while its operating margin for the same period stands at 5.50%. Its gross profit as reported stood at $305.1 million compared to revenue of $648.47 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Purple Innovation Inc.’s return on assets was -41.10%, compared to -21.3% over the last five years. For the broader industry, ROE averaged 2.17 over the past year.

Earnings Surprise

The analyst consensus anticipated Purple Innovation Inc.’s latest quarter earnings to come in at $0.12 per share, but it turned out to be $0.05, a -58.30% surprise. For the quarter, EBITDA amounted to -$0.55 million. Shareholders own equity worth $66.82 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Purple Innovation Inc. (PRPL) price momentum. RSI 9-day as of the close on 07 October was 44.10%, suggesting the stock is Neutral, with historical volatility in this time frame at 34.04%.

As of today, PRPL’s price is $21.61 +2.92% or $0.62 from its 5-day moving average. PRPL is currently trading -6.27% lower than its 20-day SMA and -32.45% lower than its 100-day SMA. However, the stock’s current price level is -18.03% below the SMA50 and -26.91% below the SMA200.

The stochastic %K and %D were 49.12% and 40.09%, respectively, and the average true range (ATR) was 0.87. With the 14-day stochastic at 46.53% and the average true range at 0.89, the RSI (14) stands at 41.61%. The stock has reached 0.26 on the 9-day MACD Oscillator while the 14-day reading was at -0.08.

Analyst Ratings

Craig Hallum downgraded Purple Innovation Inc. (NASDAQ: PRPL) to a a Hold rating in its most recent analyst report. Previously, the stock was rated as a a Buy.The consensus rating for Purple Innovation Inc. (PRPL) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell PRPL, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 8 others rate it as a “buy”.

What is PRPL’s price target for the next 12 months?

Analysts predict a range of price targets between $22.00 and $45.00, with a median target of $35.00. Taking a look at these predictions, the average price target given by analysts for Purple Innovation Inc. (PRPL) stock is $34.90.

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