Purple Innovation Inc (PRPL) Stock: Analyzing the Market Value

The 36-month beta value for PRPL is at 1.94. Analysts have varying views on the stock, with 0 analysts rating it as a “buy,” 1 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”

The public float for PRPL is 99.50M, and currently, shorts hold a 6.33% of that float. The average trading volume for PRPL on April 04, 2024 was 928.03K shares.

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PRPL) stock’s latest price update

Purple Innovation Inc (NASDAQ: PRPL) has experienced a rise in its stock price by 9.60 compared to its previous closing price of 1.77. However, the company has seen a gain of 30.20% in its stock price over the last five trading days. Zacks Investment Research reported 2024-03-26 that If you are looking for stocks that have gained strong momentum recently but are still trading at reasonable prices, Purple Innovation (PRPL) could be a great choice. It is one of the several stocks that passed through our ‘Fast-Paced Momentum at a Bargain’ screen.

PRPL’s Market Performance

Purple Innovation Inc (PRPL) has experienced a 30.20% rise in stock performance for the past week, with a -6.73% drop in the past month, and a 107.64% rise in the past quarter. The volatility ratio for the week is 11.45%, and the volatility levels for the past 30 days are at 11.36% for PRPL. The simple moving average for the past 20 days is 13.78% for PRPL’s stock, with a 15.11% simple moving average for the past 200 days.

Analysts’ Opinion of PRPL

Many brokerage firms have already submitted their reports for PRPL stocks, with ROTH MKM repeating the rating for PRPL by listing it as a “Buy.” The predicted price for PRPL in the upcoming period, according to ROTH MKM is $2.50 based on the research report published on March 13, 2024 of the current year 2024.

Craig Hallum, on the other hand, stated in their research note that they expect to see PRPL reach a price target of $6, previously predicting the price at $4. The rating they have provided for PRPL stocks is “Buy” according to the report published on November 10th, 2022.

UBS gave a rating of “Neutral” to PRPL, setting the target price at $6.50 in the report published on March 02nd of the previous year.

PRPL Trading at 31.79% from the 50-Day Moving Average

After a stumble in the market that brought PRPL to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -48.68% of loss for the given period.

Volatility was left at 11.36%, however, over the last 30 days, the volatility rate increased by 11.45%. Over the last 50 days, in opposition, the stock is trading +126.45% upper at present.

During the last 5 trading sessions, PRPL rose by +30.20%, which changed the moving average for the period of 200-days by -34.46% in comparison to the 20-day moving average, which settled at $1.7050. In addition, Purple Innovation Inc saw 88.35% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at PRPL starting from Ulrich George Turner, who purchase 4,000 shares at the price of $1.52 back on Mar 22 ’24. After this action, Ulrich George Turner now owns 16,874 shares of Purple Innovation Inc, valued at $6,061 using the latest closing price.

DICAMILLO GARY T, the Director of Purple Innovation Inc, purchase 10,000 shares at $2.22 during a trade that took place back on Aug 28 ’23, which means that DICAMILLO GARY T is holding 158,478 shares at $22,182 based on the most recent closing price.

Stock Fundamentals for PRPL

Current profitability levels for the company are sitting at:

  • -0.21 for the present operating margin
  • 0.34 for the gross margin

The net margin for Purple Innovation Inc stands at -0.22. The total capital return value is set at -0.39. Equity return is now at value -78.50, with -27.95 for asset returns.

Based on Purple Innovation Inc (PRPL), the company’s capital structure generated 0.28 points at debt to capital in total, while cash flow to debt ratio is standing at -1.25. The debt to equity ratio resting at 0.38. The interest coverage ratio of the stock is -54.94.

Currently, EBITDA for the company is -81.73 million with net debt to EBITDA at -1.66. When we switch over and look at the enterprise to sales, we see a ratio of 0.65. The receivables turnover for the company is 13.65for trailing twelve months and the total asset turnover is 1.32. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.28.

Conclusion

In conclusion, Purple Innovation Inc (PRPL) has had a mixed performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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