As of Thursday close, Purple Innovation Inc.’s (NASDAQ:PRPL) stock was down -$0.25, moving down -12.03 percent to $1.87. The average number of shares traded per day over the past five days has been 1,181,260 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.44 fall in that time frame. In the last twenty days, the average volume was 803,930, while in the previous 50 days, it was 853,966.
Since last month, PRPL stock retreated -15.99%. Shares of the company fell to $1.86 on 09/21/23, the lowest level in the past month. A 52-week high of $6.76 was reached on 02/02/23 after having rallying from a 52-week low of $2.02. Since the beginning of this year, PRPL’s stock price has dropped by -61.05% or -$2.93, and marked a new high 10 times. However, the stock has declined by -72.40% since its 52-week high.
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PRPL stock investors should be aware that Purple Innovation Inc. (PRPL) stock had its last reported insider trading activity 25 days ago on Aug 28. DICAMILLO GARY T, the Director of the company, purchased of 10,000 shares for $2.22 on Aug 28. It resulted in a $22,182 investment by the insider. McGarvey Casey Kale added 22,300 shares at an average price of $2.85 on Jun 02. The insider now owns 108,436 shares following the transaction. On May 26, Chief of Owned Retail KERBY JEFFERY SCOTT bought 16,350 shares at $3.45 apiece. The transaction was valued at $56,445.
Valuation Metrics
The stock’s beta is 1.59. Besides these, the trailing price-to-sales (P/S) ratio of 0.39, the price-to-book (PB) ratio of 1.11.
Financial Health
In the three months ended June 29, Purple Innovation Inc.’s quick ratio stood at 0.60, while its current ratio was 1.50, showing that the company is not able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 37.00% percent. In the year ended June 29, EBITDA margin amounted to -3.28%, whereas operating margins totaled -13.30%. Based on annual data, PRPL earned $210.58 million in gross profit and brought in $575.69 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -124.80%. Return on equity (ROE) for the past 12 months was -63.10%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. PRPL’s revenue fell -19.23% to $109.37 million during the quarter, while net income inched up to $120.87 million. While analysts expected Purple Innovation Inc. to report -$0.11 quarterly earnings, the actual figure was -$0.2 per share, beating the consensus estimate by -81.80%. During the quarter, the company generated -$31.27 million in EBITDA. The liabilities of Purple Innovation Inc. were 223.12 million at the end of its most recent quarter ended June 29, and its total debt was $129.03 million. The value of shareholders’ equity is $105.75 million.
Technical Picture
This quick technical analysis looks at Purple Innovation Inc.’s (PRPL) price momentum. With a historical volatility rate of 69.93%, the RSI 9-day stood at 21.25% on 21 September.
With respect to its five-day moving average, the current Purple Innovation Inc. price is down by -18.91% percent or -$0.44. At present, PRPL shares trade -13.26% below its 20-day simple moving average and -37.21% percent below its 100-day simple moving average. However, the stock is currently trading approximately -41.17% below its SMA50 and -63.79% below its SMA200.
Stochastic coefficient K was 8.39% and Stochastic coefficient D was 17.70%, while ATR was 0.14. Given the Stochastic reading of 0.77% for the 14-day period, the RSI (14) reading has been calculated as 27.52%. As of today, the MACD Oscillator reading stands at -0.12, while the 14-day reading stands at -0.15.
Analyst Ratings
Craig Hallum upgraded its rating on Purple Innovation Inc. (NASDAQ: PRPL) to a Buy in a note to investors on November 10, 2022. The analysts firm previously had a Hold rating on the stock.Purple Innovation Inc. (PRPL) has been rated Overweight by analysts. According to 0 brokerage firms, PRPL is a sell, and 4 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Purple Innovation Inc. stock as buy, with 4 recommending it as overweight.
With a median target price of $3.50, the current consensus forecast for the stock is $2.75 – $8.00. Based on these forecasts, analysts predict Purple Innovation Inc. (PRPL) will achieve an average price target of $4.79.
